FX.co ★ GBPUSD analsysis for April 05 , 2023 - Breakout of the triangle pattern

Technical analysis:

GBP/USD has been trading downside this morning and I found breakout of the triangle pattern in the background, which is good sign for the further downside movement.

Due to the breakout of the triangle pattern and overbought condition, I see potential for the further drop towards lower references.

Downside objective set at the price of 1.2430

MACD oscillator is showing bear divergence, which is another good sign for the further downside movement.

Key resistance is set a the price of 1.2510