FX.co ★ GBP/USD trapped within range

GBP/USD Upside Seems Over!

The GBP/USD pair climbed as much as 1.2030 where it has found a strong supply. Now, it is trading at 1.1954. In the short term, it is trapped between 1.2030 and 1.1925 levels. Escaping from this range could bring new opportunities.

Technically, after dropping below the uptrend line the pair signaled that the upside movement is over and that the price could drop again.

GBP/USD Trading Conclusion!

Dropping below 1.1925 former low which stands as a downside obstacle may signal a deeper drop.