GBPUSD - Liquidating the buyers in order to go even lower

GBPUSD changes its direction from an uptrend to a downtrend after a false breakdown. There are prerequisites in the shakeout (liquidation) format that hint that the decline may continue. A major player is collecting liquidity at the expense of buyers, but continues to push the price down after the trap is formed.

Relative to 1.256, price may head towards 1.2518 support.

Trade closed: target reached