GBPUSD Approaching Key Resistance — Will It Drop to 1.27720?
GBPUSD is approaching a significant resistance zone, an area where sellers have previously stepped in to drive prices lower. This area has acted as a key supply zone, making it a level to watch for potential rejection.If price struggles to break above and we see bearish confirmation, I anticipate a pullback toward the 1.27720 level.
However, a strong breakout and hold above resistance could invalidate the bearish outlook, potentially leading to further upside.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
Best of luck!
Trade active
Note
At this point I am inclined to close it on BE, it just hasn't moved
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