FX.co ★ GBP/USD outlook for August, 28

Monthly chart

The general trend for the GBP/USD pair is bearish. However, some manipulations have been made in order to collect the liquidity. It is possible that there will be some bullish corrections, which will allow the pair to complete this downtrend. The trend line has been broken, and the price is likely to rebound from the order block area at the level of 1.3281. This area is very close, so it is possible that the rebound from it will begin in the middle of next month.

This analysis is supported by the presence of an inducement before the order block area. This is an indicator that confirms the strength of this supply area.

Points of interest (POI)

Entry Level: 1.3123

Stop loss: 1.3107 (Below the OB)

Tp 1: 1.3172 (2:1)

Tp2: 1.3264 (at the structure point)