FX.co ★ GBP/USD deeper drop invalidated, upside continuation to be activated

GBP/USD strong growth

The GBP/USD pair failed to stay under the downtrend line signaling that the downside movement is over and that the buyers could push the rate towards new highs. As you already know from my analysis, GBP/USD could extend its growth if it jumps above the downtrend line and if it passes above 1.3610 former high.

A deeper drop would have been confirmed by a breakdown (drop) below the 1.3511 former low.

GBP/USD trading conclusion

Jumping and stabilizing above 1.3610 could confirm further growth and could bring new buying opportunities. 1.3700 psychological level and 1.3739 represent potential upside targets.