FX.co ★ GBP/USD downtrend unharmed

GBP/USD Minor Growth!

The GBP/USD pair increased in the short term but the current growth could be only a temporary one. It is almost to reach the downtrend line with represents an upside obstacle. You can see that the rate failed to stay above the downtrend line in the past.

Personally, I've drawn an uptrend line which stands as a downside obstacle. It remains to see how it will react around the downtrend line, only jumping and stabilizing above the may signal further growth.

GBP/USD Trading Conclusion!

Staying below the downtrend line and dropping under the minor uptrend line and through the 1.1814 former low may signal more declines.