GBP/USD Is Bearish

The last GBP/USD move to the upside lasted for a little over a week but the pair finally found some resistance at 1.3030 and bounced off from that level after forming a very clear hanging man candlestick on the daily time-frame. The current move to the downside still continues and the pair remains quite bearish, so the closest target is likely the support at 1.2855, which coincides with the (MA)89 indicator on the four-hour time-frame. A breakout below that support level will likely lead to a further move to the downside towards the next support, which is at 1.2800, or even towards 1.2750, which coincides with the same indicator, but on the daily time-frame.