The GBP/USD pair increased in the short term after reaching the 1.2010 level yesterday. Technically, this low represents a downside obstacle. 1.2067 stands as an upside obstacle, while the downtrend line represents a dynamic obstacle.
As long as it stays below the upside obstacles, the rate could drop again. On the contrary, jumping and stabilizing above the downtrend line could announce that the downside movement ended and that we may have an upside reversal.
GBP/USD Forecast!The GBP/USD pair could resume its downside movement if it stays below the downtrend line, and after dropping and closing below 1.2010.