FX.co ★ GBP/USD: 1.2625 obstacle violated

GBP/USD Downside Continuation!

The currency pair dropped deeper and now is located at 1.2619. You knew from my previous analysis that the GBP/USD pair could resume its drop as long as it stays below the downtrend line.

I've told you that the 1.2625 former low represented a downside obstacle. So, only dropping below it may announce further drop.

GBP/USD Outlook!

Stabilizing below the 1.2625 obstacle confirms a deeper drop and is seen as a new selling opportunity.