PHBUSD Breakdown: Rising Wedge Signals Bearish Continuation

PHBUSD has broken down from a rising wedge pattern on the weekly chart, signaling a potential trend reversal. The price is currently attempting a retest of the previous support zone at the $1.00–$1.20 level, which is now likely to act as resistance. If this retest fails, it could confirm a bearish continuation setup, with the next key support zone around $0.10. This level has previously acted as a major base and could serve as the next downside target

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