GBPUSD has fallen out of the downward sloping channel and has turned increasingly bearish this week. A 5-year low of 1.4532 was touched on Thursday at 1.4532.
The technical indicators are bearish, with the tenkan and kijun lines negatively aligned and pointing downward. The daily Ichimoku cloud is falling and the market is below it. The RSI is in bearish territory below 50 and entering oversold levels. The market has scope to target the June 2010 low of 1.4345.
Risk Warning: Forex, Commodities, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you fully understand the risks involved and do not invest money you cannot afford to lose. Please refer to our full Risk Disclosure.