Probable Retracement to Descending Triangle Support Zone

GBPUSD has been consolidating in a descending triangle formation since late December after an uptrend throughout November and December 2023. The pair is currently struggling around the upper resistance zone of the descending triangle. We anticipate a retracement to the support zone of the triangle pattern around 1.2613.

🔴 Sell Entry: 1.2747
🎯 Target: 1.2613
⛔️ Stop: 1.2797

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