GBP/USD Breakout and Retest Setup – Target 1.29100

The GBP/USD 1-hour chart shows a breakout from a symmetrical triangle pattern, followed by a retest of the lower trendline support, which has now turned resistance. Price is currently consolidating just above the 1.29200 level. A potential drop toward the 1.29100 target is anticipated, with price action suggesting a bearish move upon completion of the retest. Traders should watch for a clean break below the horizontal support zone for confirmation.

This GBP/USD chart shows a breakout below an ascending triangle pattern. After the breakout, price is retesting the broken support, which is now acting as resistance.

The chart suggests that price may drop to the target at 1.29100, as indicated by the yellow box. The break of the trendline and the retest hint at bearish momentum.

Note:
This is not a trading signal, just my personal analysis based on current market trends.