GBP/USD Price Drops Sharply

British Pound Price Prediction – July 20
The GBP/USD financial book records that the currency pair’s price drops sharply to approach the lower support trading area of 1.3600. The market’s percentage rate stands at -0.46.

GBP/USD Market
Key Levels:
Resistance levels: 1.3700, 1.3800, 1.3900
Support levels: 1.3500, 1.3400, 1.3300

GBP/USD – Daily Chart
The GBP/USD daily chart showcases that the currency pair’s price drops sharply after hitting resistance around the point of 1.3800. A bearish candlestick shows the market valuation at around 1.3600 or thereabout. The bearish channel trend lines are most relevant in the determination of this market’s trend. The SMA trading indicators are lagging as the 14-day SMA has just intercepted the 50-day SMA to the southward. The Stochastic Oscillators have bent southbound, close to the range of 20.
To what extent could the present down forces go as the GBP/USD price drops sharply?
The present down force carries a high catalyst to devoid the possibility of swinging at the near session. On July 16, a bearish candlestick formed against the line of 1.3800, leading the trade into a lower trading zone. Bulls’ making a come-back isn’t technically ideal for now as they needed to suspend their positions until a while.

On the downside analysis, the GBP/USD bears have had a better chance to continue pushing the market southward further based on the weight of the current downward force. As the Stochastic Oscillators point southward portends a sign that the currency pair’s market is under a heavy falling pressure that could place bulls’ action on a decimation trading style.

Summarily, The GBP/USD market operation has been dominated by downward forces, now giving bears an upper hand over bulls. Therefore, some of the positions that needed to gain top priority are sell orders. It could sometimes be before a decent support surfaces again in this currency pair.
GBP/USD 4-hour Chart
A downward trend has formed in the wake of variant bearish candlesticks that appeared on the downside of the SMAs. The 50-day SMA indicator is over the 14-day SMA indicator. The bearish trend-line drew downward across the trend lines of the SMAs. The Stochastic Oscillators are in the oversold region with the two lines conjoined, moving in a consolidation manner to affirm the current downward forces in the currency pair trading activities.


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