Technical analysis of GBP/USD 06/25/2021

On the daily chart, the British Pound/US Dollar currency pair found resistance at 1.4250. From which it has corrected and is currently consolidating around 1.3900. The pair broke through the uptrend line and (MA200) on the daily chart. The technical picture suggests a continuation of the downward correction with the nearest target in the area of 1.3700 (23.6% Fib). The divergence on the RSI is in favor of the decline. Cancellation of the option for the development of a downward correction will be the growth of the pair above the high of 1.4250.

Created by Joshua Hayn

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