At the beginning of the month, GBP/USD made several unsuccessful attempts to reclaim the 1.30 level. Following these attempts, the pair saw a strong decline and is now trading below 1.27.
However, GBP/USD is approaching a crucial point on the chart, and a potential reversal may be imminent. As shown in the posted chart, this zone is shaped by three key factors: the ascending trendline from a previously broken triangle, a descending trendline indicating a retest, and two important horizontal support levels.