GBP/USD: the pound slides

GBP/USD: the pound slides

Recommendation: SELL 1.2785 SL 1.284 TP1 1.2685 TP2 1.264 TP3 1.257

On the daily chart of GBP/USD the price broke through the lower limit of the downward channel. It shows the sellers are confident that price would go down. Downward movement will activate the “Shark” pattern with the target at 113%. The update of August minimum will increase the risks of moving towards 61.8% and 78.6% from the long-term ascending wave.

1.png

On H1 chart of GBP/USD if buyers cannot manage to hold the price near a target at 88.6% of the “Bat” pattern, the trend will turn bearish. If sellers break the support at 1.2785, the price will fall.

2.png

Similar

Latest news

The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera