FX.co - GBP/USD update for August 31, 2021 - Potential for the downside rotation

2021-08-31T11:33:46

Relevance until2021-09-01

Technical analysis:

GBP/USD update for August 31, 2021 - Potential for the downside rotation

GBP/USD has been trading sideways at the price of 1,3783 but I see potential for the downside rotation towards lower references.

Trading recommendation:

Watch for selling opportunities with the downside target at the price of 1,3735

There is the breakout of the rising trend line and back into the 2-day range.

Key resistance is set at the price of 1,3800

*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 31, 2021 - Potential for the downside rotation