GBP/USD Sideways Movement!
The GBP/USD pair is trading at 1.2630 at the time of writing. It seems undecided in the short term as it is moving sideways between 1.2585 and 1.2665 levels. Technically, the price could continue to move in range for a while. Only escaping from this chart formation could really bring us great opportunities.
The rate dropped below the uptrend line signaling that the upwards movement ended and that the sellers could drag it lower. 1.2665 stands as an upside obstacle, while 1.2585 represents a downside obstacle.
GBP/USD Forecast!
Dropping below 1.2585 may announce a larger downside movement and is seen as a new selling opportunity.
