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06.08.2021 02:24 PM
GBP/USD update for August 06, 2021 - Potential for the breakout of the consolidation
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Technical analysis:

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GBP/USD has been trading sideways at the price of 1,3915 and watching for the breakout will be good strategy under current condition.

Trading recommendation:

Watch for the breakout of the support at 1,3875 to confirm drop towards 1,3765 and 1,3720.

Stochastic oscillator got the fresh bear cross, which is another sign for the downside movement.

Key Resistance is set at the price of 1,3960

Petar Jacimovic,
Analytical expert of InstaTrade
© 2007-2025

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