empty
 
 
29.10.2021 09:33 PM
GBP/USD dropped as expected

This image is no longer relevant

GBP/USD deeper drop in view

The GBP/USD pair registered a strong drop after retesting the uptrend line and the downtrend line. In my previous analysis, I've told you that the pair could develop a larger drop if it declined below the 1.3722 level.

Also, I've said that GBP/USD could come back to test and retest the uptrend line before dropping deeper. Failing to stabilize above the downtrend line signaled that it could still develop a larger downside movement.

GBP/USD forecast

Its aggressive drop below 1.3722 former low (downside obstacle) was seen as a selling opportunity. In the short term, the GBP/USD could try to increase a little after the current sell-off. A minor rebound towards 1.3722 could bring new selling opportunities.

As long as it stays below 1.3722, GBP/USD could extend its drop towards the next major downside target represented by the 1.3600 psychological level.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback