09.06.202217:42 Forex Analysis & Reviews: GBP/USD Minor Range In Play

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD Seems Undecided

The GBP/USD pair was traded at 1.2525 at the time of writing and it seems undecided in the short term. As you can see on the H4 chart, the price is trapped between the 1.2484 and 1.2655 levels.

As long as it stays under the downtrend line, the pair could drop deeper at any time. The trendline represents a dynamic upside obstacle.

GBP/USD Trading Conclusion

Staying below the downtrend line and dropping below the 1.2484 downside obstacle again may signal more declines and could help the sellers catch a new downside movement.

Only jumping and stabilizing above the downtrend line and above 1.2655 could announce a larger growth and a potential reversal.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.