FX.co ★ GBP/USD Decline Favored!

GBP/USD dropped below the uptrend line after failing to approach and reach 1.4005 former high. Dropping below the uptrend line signals that the pair could decline again in the short term.

You can see on the H4 chart that, GBP/USD stands below a downtrend line. It could start decreasing as long as it stays under the downtrend line.

Forecast!

Dropping below 1.3849 former low could signal a deeper decline towards 1.3800 and down towards 1.3768.