analytics60769f59ac706.jpg

GBP/USD is trading at 1.3790 level after coming back above the broken downtrend line. The first breakout above the downtrend line signaled that we could have a reversal and that the decline could be over.

The pair has decreased a little to test and retest the downtrend line and the 1.3682 former low before jumping higher.

Trading Conclusion!

The current jump above 1.3768 former highs is seen as a buying opportunity with a potential target at 1.3910 level. The Stop Loss could be placed and hidden below 1.3682 lower low.

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

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.