FX.co ★ GBP/USD extends its downtrend

GBP/USD Sellers In Full Control!

The GBP/USD pair continues to drop, it could approach and reach fresh new lows as long as it stays below the downtrend line. As you already know from my previous analyses, GBP/USD was expected to drop deeper if it drops below 1.3355 former low.

Failing to reach and retest the downtrend line could announce strong sellers and potential further drop.

GBP/USD Trading Conclusion!

Staying below the downtrend line and dropping below 1.3355 former low was seen as a selling opportunity. It could approach and reach fresh new lows ass long as it stays under the downtrend line.

Retesting the downtredn line could bring new selling opportunities. The downside movement could be over only if the rate jumps and stays above the downtrend line.