GBPUSD broke out below the lower line of the triangle pattern on 4-hour chart, indicating that the upward movement from 1.2109 had completed at 1.2615 already.

The pair is now in downtrend, further decline could be expected after a minor consolidation and next target would be at 1.2200 area.

Editor’s Note: Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the British Pound Sterling (GBPUSD), minus ETF fee. The fund seeks to reflect the price of the British Pound Sterling (GBPUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

Content curiosity of FOREXCycle