GBP/USD still in longer-term downtrend
The GBP/USD recently broke below a very-very-long-term support line, as seen in the chart here where the dark green line drawn from the 1985 low to the lows of 2016 as well as last year, was finally invalidated during the COVID-19-related forex market volatility in Q1 2020, near 1.1400.
Given that the GBP/USD is still caught in a more medium-term and shorter-term downtrend, which can be seen by the bright red bearish trend-line.
This means further downside could be likely, but in any case, I expect more volatility for the GBP/USD in the months and years ahead, with ranges from 1.1000 to 1.4000.
Given that the GBP/USD is still caught in a more medium-term and shorter-term downtrend, which can be seen by the bright red bearish trend-line.
This means further downside could be likely, but in any case, I expect more volatility for the GBP/USD in the months and years ahead, with ranges from 1.1000 to 1.4000.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.