Baxia Markets
August 10, 2021

Will GBPUSD Continue To Go Down?

technical analysis top header -01


The price of GBPUSD has been going down on a slight slope for ten days. During these ten days, the fluctuation range was small, which could also be proved from the Standard Deviation. Standard Deviation has been moving at a low level since the beginning of this downward trend. What does the small fluctuation mean?




The Bollinger Bands just expanded, which gave the price more options and possibilities. Also, the price now overlaps with the Ichimoku cloud; it could mean the start of a downward trend; however, the Ichimoku cloud changes the direction later. Although the downward trend on MACD continues, we cannot ignore the SAR trend in a mild slope; dots still squeeze together. And now, the price line touches the 38.2% Fibonacci level, which could be a support point. As we see, the price line touched the Bollinger Bands again at this time. I do not want to say that the downward trend would end up here. However, we should be careful and monitor signals. Now the price is dangerous and volatile, we need to be cautious.


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