16.07.202013:30 Forex Analysis & Reviews: GBP/USD analysis for July 16, 2020 - Potential for bigger drop towards the 1.2450

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Technical analysis:

GBP has been trading downwards. I expect further downside movement due to potential C leg in creation. Potential test of 1,2480 and 1,2450 in play.

Trading recommendation:

Watch for potential selling opportunities with targets at 1,2480 and 1,2450

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

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