GBP/USD could return to test its $1.0345 lows in the near term
On the technical side, the outlook for GBP/USD turns bearish again in the near term after the exchange rate broke out from the bottom of the rising wedge it had been trading in for a month.
This is a technical signal for a continuation of the underlying downtrend and paves the way for a fresh short-term leg down that could extend to the recent all-time low of $1.0385.
This bearish outlook would theoretically be invalidated in the event of a bounce above the recent high of $1.1645.
Admission: Sales between $1.15 and $1.14
Goal: 27,000 points
Risk/reward ratio: 4
Follow the development of the GBP/USD price with IG.