Due to political fundamental the GBP/USD pair has declined and broken the junior ascending pattern. Namely, the German Chancellor Angela Merkel slammed the Prime Minister of the United Kingdom in a way that the markets saw as destructive for the British currency.
Such events usually ignore all technical indicators. This was no exception. However, if one practices proper risk management by using stop losses, large losses are avoided.
Meanwhile, note that the 55-hour SMA did manage to provide support .
