FX.co ★ GBP/USD downside movement seems over

GBP/USD Turned To The Upside!

The GBP/USD pair has found demand around 1.3303 level and now it has jumped above the immediate downtrend line signaling that the downside movement is over. 1.3355 former low is seen as an upside obstacle. In the short term, it could move sideways before moving up or down.

Staying above the 1.3303 and above the broken downtrend line may signal an upside reversal.

Trading Conclusion!

Staying above 1.3303 and jumping above the 1.3355 may signal that the GBP/USD could develop a potential growth towards 1.3400 and or up to the 1.3500.