GBP/USD Simple Overview: Quick Bounce in a Downtrend

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The British pound has dropped sharply and is currently trading around 1.3381 after falling out of its downward sliding channel. It is trying to bounce back a little, but it has run straight into a tough ceiling around 1.3387 to 1.3400, where both the 20-period moving average (blue line) and the old channel line sit. If buyers can't push the price clearly above 1.3400, this small pause will likely run out of steam, sending the price back down toward 1.3340 or even 1.3280.



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