Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2776. According to the H1 time – frame, I found a potential end of the upward correction in the background (expanded flat), which is a sign that buying looks risky. Most recently, I have found the breakout of the intraday bearish flag, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.2722.
The material has been provided by InstaForex Company -
www.instaforex.com