Aurum Markets Blog Technical Analysis A potential bearish movement on GBPUSD

A potential bearish movement on GBPUSD

A potential bearish movement on GBPUSD post thumbnail image

The movement of GBPUSD towards the support line of a Channel Down is yet another test of the line it reached numerous times in the past. This line test could happen in the next 18 hours, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current levels.

Supported by Downward sloping Moving Average

Target: 1.338 Entry: 1.3425 Stop: 1.3492

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