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11.08.202115:56 Forex Analysis & Reviews: GBP/USD upside movement awaits confirmation

Exchange Rates 11.08.2021 analysis

GBP/USD has decreased in the short term, but the outlook is still bullish. It could resume its growth anytime. The price approaches the immediate minor downtrend line. Jumping and staying above it may signal that the GBP/USD should resume its upwards movement.

It could drop again only if it stays under the downtrend line. A larger downside movement could be signaled by a drop below the 1.3800 psychological level.

Trading Conclusion!

Jumping above the downtrend line and passing above 1.1900 could represent a buying opportunity with a potential upside target at the 1.4000 level.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Ralph Shedler,
Analytical expert of InstaSpot
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