FX.co - GBP/USD update for August 26, 2021 - Sellers in control and potential for drop towards 1.3700

2021-08-26T11:57:38

Relevance until2021-08-27

Technical analysis:

GBP/USD update for August 26, 2021 - Sellers in control and potential for drop towards 1.3700

GBPUSD has been downside as I expected. The GBP did back into old trading range, which is good sign for further downside movement.

Trading recommendation:

Watch for selling opportunities on the rallies with the downside target at 1,3700.

Stochastic oscillator is showing fresh bear cross, which is another sign for the weakness..

Resistance is set at the price of 1,3750

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ GBP/USD update for August 26, 2021 - Sellers in control and potential for drop towards 1.3700