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16.08.202122:54 Forex Analysis & Reviews: GBP/USD upside breakout signals continuation

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GBP/USD is still trapped below a downtrend line, so the pressure remains high as long as it stays under this dynamic resistance, an upside obstacle. Staying below it may signal a deeper decline.

Only a jump above it and above the high of 1.3839 may signal potential growth. The current drop could be only a temporary one. It has failed to stabilize above 1.3800 psychological level in the last attempts signaling that the downside movement is over.

Trading Conclusion

A drop below 1.3800 could signal a further decline towards 1.3750 or even lower towards the psychological level of 1.3700.

On the other hand, a jump above the downtrend line and through the psychological level of 1.3900 is likely to announce potential growth in the upcoming period.

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