FX.co ★ GBP/USD update for February 07, 2022 - Breakout of the rising trendlines in the background

Technical analysis:

GBP/USD has been trading downside today and there is the breakout of the rising trendline in the background, which is sign for further downside continuation.

Trading recommendation:

Due to the breakout of the rising trend lines in the background and imbalance today, I see potential for downside opportunities.

Watch for selling opportunities on the rallies wit the downside objectives at 1,3490, 1,3435 and 1,3390.

Resistance level is set at 1,3550