GBP/USD Price Analysis: Bullish impulse is decelerating, eyes on 1.2150 GBPUSD Technical Analysis
1.1900 is eyed on the downside extreme on a break below 1.2150/00. while below 1.2400 and 1.2220 nearer-term highs. The following illustrates GBP/USD's W-formation and test of mid-December highs where a failure to break higher would eventuate in a bearish thesis for the days ahead. As seen, the market is on the back side of the recent supportive trendline and the price broke 1.1900 structure leaving a bearish bias on the charts.
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