FX.co ★ GBP/USD update for February 04, 2022 - Breakout of the rising trendline in the background

Technical analysis:

GBP/USD has been trading sideways in last few hours and there is the breakout of rising treeline in the background, which is sign for further downside movement.

Trading recommendation:

Due to the breakout of the rising trend line in the background , I see potential for the downside continuation.

Watch for selling opportunities in case of the downside breakout of support at 1,3525.

Downside objectives are set at the price of 1,3505, 1,3475 and 1,3445

Resistance level is set at 1,3550