GBP/USD Might Proceed Further Down if 1.3185 Breaks
December 8, 2021
GBP/USD Technical Analysis
- GBP/USD is in downtrend
- Continuation candle spotted
- Series of lower highs and lower lows
- W L5 is the target if W L4 is broken
DAILY CHART GBP/USD
- Swing high
- Swing low
- Trend line
- Entry zone
- Final target
The GBP/USD is in a downtrend. The target could extend below 1.3185 towards 1.3059. In the UK we can witness fears of new social distancing rules as result of the new virus strain – Omicron. Technicals are aligned with fundamentals and we can see the further drop in the price. The first target is 1.3185 . If we see the close below that level, but only below that level then the price is going to continue to next target that is the W L4 – 1.3138. Below that one we could see 1.3059. Watch the price action.
