Possible breakdown below 1.20

GBP is above 1.20. That is why I obstain from shorting it now. Its risky to short it for now. It is very strong support level. But price poked below it a few times (indicates weakness and future breakdown. The more price pokes through support the weaker it gets).

Trendline breakdown with a strong bearish candle indicates move lower. So do also lower low and lower highs.

Price might retest monthly close before it starts trending down.

IF price makes higher high on daily, it will end at 1.30.

FOR EDUCATIONAL PURPOSES ONLY.