GBP/USD: pressure mounts on pound after BoE

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

Stop: $1.1650

Goal: 27,000 points

Risk/reward ratio: 4

Follow the development of the GBP/USD price with IG.


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