GBP/USD Price Analysis: Bears about to re-engage at critical 15-min resistance?
|- GBP/USD in a Brexit headline chop with a discount on the cards for bears.
- The 15-min chart displays a potential selling opportunity.
GBP/USD is in a chop but could be about to pull in further offers to complete a downside extension to prior resistance turning support structure.
15-min chart
As illustrated, the price is now testing a critical resistance area and has left a wick on the downside.
On the lower time frames, such as the 5-min, this wick merely represents a bullish correction from which failures beyond 1.3580 could result in further selling pressures.
If the bulls capitulate, then there are prospects of a downside correction to the 1.3530/40 support.
5-min chart
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