FX.co ★ GBP/USD Downside Continuation Under Question

GBP/USD dropped below the uptrend line but a potential larger drop is not confirmed yet. Now is traded higher at 1.4114 level pressuring the broken uptrend line.

Staying below the uptrend line and dropping below 1.4065 new lower low could really confirm a deeper drop. The downside scenario will be invalidated if GBP/USD stays above 1.4093 - 1.4065 area.

Trading Conclusion!

Sell GBP/USD only if the rate drops below 1.4065 low and use 1.4000 psychological level as a potential downside target.