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10.02.202016:58 Forex Analysis & Reviews: GBPUSD in bearish trend is expected to see below 1.29 again.

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GBPUSD is bouncing above 1.29 after briefly moving below it. Price has produced a bearish signal once support at 1.30-1.2985 broke.

Green line - support (broken)

Red line - resistance

GBPUSD is in a bearish trend. Price is bouncing today but as long as price is below the green broken trend line support, we remain bearish expecting a move towards 1.27. Possible bounce target is at 1.30 for a back test of the breakdown area. Bears would ideally get a bounce and rejection at 1.30 area.

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