GBP/USD slipped and fell into a downtrend
Hello rich traders. In today's trading session GBP/USD came under selling pressure and fell to 1.2460 following the release of mixed data on Industrial Production and UK GDP. A Look at GBP's Technical Picture /USD we can see that this pair is moving sideways and we can argue that this market has not yet had any new data and fluctuations.
_But recent movements suggest that GBP/USD is in a long-term downtrend and we need to aim lower. That means we will follow that plan. If we clearly see a strong rejection near that trendline. If that happens, it is likely to reach $1.2400. More sellers can be invited to join the game.
_But recent movements suggest that GBP/USD is in a long-term downtrend and we need to aim lower. That means we will follow that plan. If we clearly see a strong rejection near that trendline. If that happens, it is likely to reach $1.2400. More sellers can be invited to join the game.
