Trading Conditions
Products
Tools
GBP/USD has declined in the short term after another failure to close above the 1.3200 psychological level and now it is trading in a range or sideways movement. The pair is trading inside the upward channel, so the prospects are bullish. Therefore, GBP/USD could jump higher.
Though, a drop below the 1.2971 could attract more sellers and activate a significant drop towards the uptrend line, channel's support.
Sell below the 1.2970 level, the near-term downside targets are seen at the 1.29 and at 1.28 levels.
Buy GBP/USD if the price reaches the 1.3200 psychological level. The major upside target remains at the upside line of the up channel.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.