FX.co ★ GBP/USD update for March 25, 2022 - Breakout of rising trendline in the background

Technical analysis:

GBP has been trading side that the price of 1.3185. I see potential for the downside movement due to the breakout of the rising trend-line in the background.

Trading recommendation:

Due to the breakout of the rising trend-line in the background and failed breakout of the mini consolidation, I see potential for the downside movement.

Watch for potential selling opportunities in case of the breakout of support at 1.3160.

Downside objectives are set at 1.3110 and 1.3005

Stochastic oscillator is showing overbought condition, which is another sign for the downside rotation.

Resistance is set at 1.3284