GBPUSD broke ascending support line, potential drop to 1.400

GBPUSD broke ascending support line, potential drop to 1.400 for FX:GBPUSD by FXCM

GBPUSD broke ascending support line, potential drop to 1.400



Price has broke a short term ascending support line triggering a potential drop to support at 1.4000.

1.4104 remains the key level to be broken as a downside confirmation to trigger a further move down because price has bounced from that level multiple times previously.

It’s worth noting that price has a strong bearish divergence vs RSI that stretches all the way back to mid-May 2021.

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