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IlyaSpivak

GBPUSD trend may be resuming after trendline break

Short
British Pound / U.S. Dollar (FX_IDC:GBPUSD)  
IlyaSpivak  
FX_IDC:GBPUSD   British Pound / U.S. Dollar
Support and Resistance Trend Lines Double Top or Bottom GBPUSD gbp-usd britishpound pound GBP Double Top
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supportandresistance trendline doubletoporbottom gbpusd gbp-usd britishpound pound gbp doubletop
GBP/USD broke rising trend support having recoiled from resistance near the 1.40 figure, hinting that the broader down move emanating from the Double Top in the 1.4210-51 zone is resuming. Confirmation on a close below 1.3879 looks likely to expose a dense support bloc in the 1.3730-1.3800 region. Reclaiming a foothold above 1.40 looks like a pre-requisite for neutralizing selling pressure.
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