21.07.202219:44 Forex Analysis & Reviews: GBP/USD trapped within range

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 Upside Seems Over!

The GBP/USD pair climbed as much as 1.2030 where it has found a strong supply. Now, it is trading at 1.1954. In the short term, it is trapped between 1.2030 and 1.1925 levels. Escaping from this range could bring new opportunities.

Technically, after dropping below the uptrend line the pair signaled that the upside movement is over and that the price could drop again.

GBP/USD Trading Conclusion!

Dropping below 1.1925 former low which stands as a downside obstacle may signal a deeper drop.

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.