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I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

GBP/USD: downtrend is waiting for bears

GBP/USD: downtrend is waiting for bears

We’ve got the price movement in a range of the current “Flag” pattern. So, it’s likely that the market is going to decline towards the main downtrend line in the short term. If any bullish pattern arrives afterwards, there’ll be an opportunity to see a bullish correction in the direction of a resistance at 1.3116 – 1.3226.

GBP/USD: downtrend is waiting for bears

The price faced a resistance at the upper side of the “Flag”, so the pair is likely going to fall towards a support at 1.2795 in the short term. Considering a possible pullback from this level, an upward correction becomes possible later on.

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