FX.co ★ GBP/USD Upside Movement Signaled!

GBP/USD has finally managed to jump above the downtrend line signaling an upside reversal. I've told you in my previous analysis that an upside breakout could bring us a new buying opportunity.

The outlook was bearish as long as the price was located below the downtrend line. Now we could search for new buying signals.

Trading Conclusion!

GBP/USD has decreased a little after reaching the 1.3830 level. It has decreased trying to retest the broken downtrend line to confirm the breakout.

Jumping above the 1.3830 immediate high is seen as a buying opportunity with a potential upside target at the 1.4000 psychological level. The Stop Loss could be hidden below today's low or lower below 1.3727 low.