GBP/USD: Personal Analysis of the Pound's Continuing Downtrend
In today's trading session, I have been keeping an eye on the GBP/USD chart. The British pound is currently showing signs of falling in a clear descending pattern. This falling channel has been forming for some time now, and the price has now bounced off the bottom support line of the channel.
I see that the price has reacted strongly to the pink resistance zone above, and if the downtrend continues, I predict that it will likely retest the important support level at lower levels. This support level, if broken, could lead to a more aggressive decline.
I see that the price has reacted strongly to the pink resistance zone above, and if the downtrend continues, I predict that it will likely retest the important support level at lower levels. This support level, if broken, could lead to a more aggressive decline.
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