Overview:

From April of this year GBP/USD is in a strong downtrend.
A near support level is near ( around 1.200) a round number.
My expectation is for the price to move further down to meet this support.

Weekly chart:

On the weekly chart you can clearly see this medium/short term downtrend developing.
As you can see the price was rejected several times from 1.200 level.
This should be our target.


Daily chart:
On the daily chart the possible scenario is described.

Support/Resistence levels; 1.430, 1.345, 1.270, 1.200
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –