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GBP/USD Downside Momentum!

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GBP/USD is dropping right now after failing to stay above the minor uptrend line. The pair could register an important drop if it stays under the downtrend line.

Its failure to reach and retest the downtrend line signals strong sellers. It could approach and reach the 1.3798 former low as long as it stays under the downtrend line.

Outlook!

Dropping below the minor uptrend line represented a selling opportunity. The bias is bearish, GBP/USD could drop as long as it stays below the downtrend line.

The material has been provided by InstaForex Company - www.instaforex.com