The GBP/USD pair is dropping like a rock after reaching 1.1869 and failing to stay above the 1.1853 former high, representing an upside obstacle. Also, the downtrend line stands as a dynamic obstacle.
You knew from my previous analysis that as long as the currency pair stays below the downtrend line, it could resume its downside movement, approach, and reach new lows.
GBP/USD Trading Conclusion!Dropping and stabilizing below the 1.1727 former low could activate a further drop toward new lows. This scenario could bring selling opportunities.