GBPUSD trendline resistance

After the recent decline on #GBPUSD to the weekly 200 moving average, price is now facing the daily trendline resistance. A failure here may take price back down to the recent lows while a breakout may provide reason for further strength.

Although current pricing is indicating weakness as price is below the trendline, near term price has been in a range so as is our preference, we will wait for a breakout with our trend to confirm a trade.