GBP/USD: bears delivered new low
The market has plunged, which led to form a huge “Thorn” pattern. Therefore, it’s likely to see a correction towards the nearest resistance at 1.2677. However, the market is probably going to decline afterwards until any bullish pattern forms.
Bears have deliver a new historical low at 1.1726, so we’ve got a “Thorn” pattern. In this case, the price is likely going to deliver an upward correction. If we see a pullback from 1.2621, there’ll be an opportunity to have another decline.