GBPUSD: Double Top Breakdown Setting Up

Hi!

Pattern Structure
A clear Double Top formed between June–Oct 2025 around 1.3750–1.3850, showing strong rejection.
The neckline at 1.3050–1.3070 has been tested several times, confirming it as a key support. 🔎

Trend & Momentum
Price is sliding inside a descending channel since October ➡️ lower highs + lower lows = continued bearish pressure.

Key Levels

Neckline: 1.3050 ⚠️
Pullback zone: 1.3150–1.3200 (potential retest)
Flip Area / Target Zone: 1.2820–1.2850, a major S&D level acting as the double-top target🎯

Expected Scenario
If price rejects the trendline again, a continuation toward 1.2820 is likely.
Only a strong recovery above 1.3250 would weaken the bearish setup. 🚫

Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.

交易开始

melikatrader94

📊 AVATrade Ambassador Join & explore:
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------

🟢 Telegram channel: t.me/melikatrader94

🔴 Forex channel: t.me/melikatrader94GoldForex

免责声明

这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。

melikatrader94