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Pound triangle breakout failure challenges 1.3060 support

  • The triangle bullish breakout is failing. 
  • The level to beat for bears is the 1.3060 level.

 

GBP/USD daily chart 

 

The break from the triangle pattern is currently failing below the 1.3100 figure. The market is challenging the 50-day simple moving average (SMA).  

 

 

GBP/USD four-hour chart

 

The pound is breaking down after rejecting the 1.3100 figure. The market is challenging the 1.3060 support and the 50/10 /SMAs. A breach below this level could lead to further downside with bears setting their eyes on the 1.3019 and 1.2965 resistances, according to the Technical Confluences Indicator.  

  

Additional key levels

 

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