GBPUSD POSSIBLE SCENARIOS

Price is getting rejected from the overall weekly picture downtrend line, with last week close PIN-BAR and we almost have same on the monthly candle until it will close at the end of this trading week.

We've price close on weekly basis below the down trend-line.. with an ascending FLAG in place on the 4H chart.

I will be looking out for a break below ascending FLAG to set price lower exposing 1.2700 as target or next level of support.

WHILE price will be set higher if buyers can hold the support of the ascending FLAG, break above the long holding downtrend line and continue up.