Even though on the daily chart the Cable is moving in a sideways/ranging condition (navy blue box) but with the apperance of the Bearish 123 pattern and also confirmed by the price movement which is below WMA 20 which has a downward slope, the main currency pair GBP/USD in a few days ahead has the opportunity to weaken down to level 1.2476 as the main target and level 1.2326 as the next target to be aimed at, but if on its way to the target levels that have been appointed but suddenly there is an upward correction until it breaks above level 1.2738 then the scenario is a decline as previously described will become invalid and automatically cancel itself.
(Disclaimer)
