A breakdown of the local support level 1.3600 will increase the risks of further decline inside the descending channel on the weekly chart with a target at support level 1.3365. A breakdown of the support level 1.3210 (Fibonacci level of 23.6% of the correction to the decline of the GBP / USD pair in the wave that began in July 2014 near the level of 1.7200) will finally return GBP / USD to a long-term bear market.
In the alternative scenario of GBP / USD, a signal for the resumption of buying will be the pair's return to the zone above the resistance levels of 1.3725, 1.3744.
Trading recommendations
Sell Stop 1.3620. Stop-Loss 1.3710. Take-Profit 1.3600, 1.3365, 1.3210
Buy Stop 1.3710. Stop-Loss 1.3620. Take-Profit 1.3725, 1.3744, 1.3784, 1.3800, 1.3900, 1.3970, 1.4000, 1.4100, 1.4200, 1.4240, 1.4300, 1.4350, 1.4440, 1.4580, 1.4830
*) GBP/USD: Current Fundamental Analysis and Market Expectations
**) the most up-to-date "hot" analytics and trading recommendations (including entries into trades "by-the-market") - https://t.me/fxrealtrading
