GBP/USD Downtrend!
The GBP/USD pair resumed its downside movement after failing to reach and retest the downtrend line. You knew from my analyses that staying below the downtrend line and dropping below 1.3576 may activate a larger downside movement.
The current downside movement was somehow expected after dropped below the uptrend line. 1.3355 level is seen as a potential downside target. This level represents a downside obstacle. Dropping and stabilizing below it may signal potential further drop.
GBP/USD Trading Conclusion!
As long as it stays under the downtrend line, GBP/USD could drop towards fresh new lows. Dropping and stabilizing below the 1.3355 could confirm a downside continuation. This scenario could bring new selling opportunities.
