With the price point now reaching a consolidation area following the recent general elections. I see the the strength of the pound greatly encouraged by the re-elected Boris Johnson.
There is the possibility for the GBPUSD to reach daily highs in the coming days. With an almost certain retest of the 1.32250 Price point (to form a right shoulder in a H&S pattern)
Not to forget the MACD and RSI confirmation.
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The breakout of the resistance areas meaning the downward momentum of the GBPUSD will continue. My stop loss was reached now and Im now actively trading with the downward momentum. The possibility to reach the 1.28300 price point