FX.co ★ GBP/USD upside movement awaits confirmation

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.