FX.co ★ dusty24 | GBP/USD

During the decline on the GBP/USD pair over the past couple of trading days, sellers managed to break through the key support level at 1.3535 and establish themselves below it. The volumes during the decline and the breakthrough of this level were quite high and gradually increasing, indicating an accumulation of short positions by large bears. Moreover, the fact of settling below the mentioned level paves the way for a new wave of selling in the near future. In general, I prioritize selling, so I will be expecting the continuation of the recent downtrend on the GBP/USD pair in the upcoming trading week towards the nearest key support level at 1.3412, with a subsequent breakthrough and consolidation below it.