Permanecer 
Condições de Negociações
Ferramentas
The pair has been consolidating since a pullback from 3/8 MM Level happened. Previously, GBP/USD hasn't fixed above 8/8 MM Level which led to the current decline. Also, the Super Trend Liens have formed a 'Bearish Cross' which confirmed the outlook. Currently, the 4/8 MM Level is acting as strong resistance. The pair has fixed below the four-hour Super Trend Line, that's why the bearish outlook is the main one. Thus, we're likely to have another decline in the direction of the 2/8 MM Level in the coming hours, possibly even today.
If the price breaks the 4/8 MM Level, there'll be an open door for a test of the Daily Super Trend Line which could act as resistance. If this happens, we should wait for the price to return under the 4/8 MM Level to confirm this scenario. Meanwhile, if the market breaks the Daily ST-Line, the bearish outlook will be at risk. In other words, if the Daily ST-line turns out to be broken, there'll be an option to have a longer upward correction.
The bottom line is that GBP/USD remains bearish and there's no sign in favour of a possible reverse. Thus, we should watch the 2/8 MM Level as a potential intraday target. If the price goes through this level, we should watch lower levels as the next target.
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.
