FX.co ★ GBP/USD

Hello traders, the GBPUSD pair closed the trading week in the red zone, with bulls not intervening in the pair's movement at all, as evidenced by the lack of volumes in the overbought zone. This means that the downward price movement is likely to continue even at the opening of the new trading week. However, a visible bullish pattern has emerged, which could lead to a reversal. Therefore, my trend line, representing some support, suggests that we may see a bounce towards the north if the price falls to around 1.3146. But I wouldn't expect such a miracle, as the dollar has significantly strengthened against all currencies. So, I am definitely leaning towards a price decrease, which is quite evident. I have mentioned the downside target above, but whether the pair will decline remains a dilemma that we will see at the market opening tomorrow.