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[QUOTE="HubuFX, post: 223794, member: 107424"]
[JUSTIFY][B][U]GBPUSD Forex Analysis: Downtrend Likely to Continue[/U][/B]

Stay updated with the latest Forex Analysis and Forex News in this article for the GBPUSD currency pair. You will find valuable information about both technical and fundamental analysis related to GBPUSD.

[img]https://i.ibb.co/h2x3Hgg/gbpusd-forex-analysis-downtrend-likely-to-continue-1.png[/img]

The GBPUSD currency closed under the 1.2591 support and the 0.382 level of Fibonacci retracement. Zooming to the 4 hour chart, the pair has tested the broken support which now acts as resistance. Consequently, the downtrend of GBPUSD is likely to continue, and the next target would be the 1.2468 area if the 1.264 pivot is not breached. Please note that as long as the GBPUSD trades below the pivot, the bearish scenario remains valid.

[img]https://i.ibb.co/hKkxQ85/gbpusd-forex-analysis-downtrend-likely-to-continue-2.png[/img]

On the flip side, resistance is at the pivot at 1.2626. The bulls must close above the pivot to raise the GBPUSD price to 1.2779 again. This level of resistance is very strong and the market couldn't break through it in the last couple of weeks.[/JUSTIFY]
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