Baxia Markets
August 20, 2021

Downward Trend would Continue on USDGBP

technical analysis top header -01


The downward Trend of USDGBP started on Aug 16th. The slope has been steep since the beginning. During the fall, the only support was from lower Bollinger Bands, which was a test, and the price only reached the middle line of the Bollinger Bands. After the test, the downward trend continues.




Does this mean the trend was solid and will continue? I would say that the price does move stably. Although the Ichimoku goes down, it cannot catch the price line. Even if the price line goes down soon, it still moves within the Bollinger Bands. Also, the Stochastics moved back to the middle part. All of these signals prove that the downward trend is solid here. So I would assume that the downward trend would continue, which is the same as MACD.


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. 

trading conditions, technical analysis, trading indicator

Subscribe by Email