As we see on the 4-hour chart, the Cable now is moving with a bearish bias because the bullish breaker and the Hagopian trend line have been already breached and confirmed by the CCI (30) which has already moved away from 100, 0, and -100 level (now moving bellow -100 level). We know the Sellers are holding the upper hand in this pair. So, GBP/USD will try to reach the nearest Liquidity Pool at 1.2246-1.2236 as long as the price does not rebound higher than 1.2377. If so, the Cable will still continue the bearish bias.
(Disclaimer)
