Sasha Singh
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GBPUSD : Will it Continue to Follow Downtrend ?

(GBPUSD : 4 Hour Chart)

GBPUSD fluctuating today after the Bank of England monetary policy decision. BOE decided to keep the monetary policy unchanged and interest rates on hold at current record low levels. On the 4 hour chart, GBPUSD rose after the BOE decision but was not able to hold the gains and is declining now. It may find support at 1.6729 and rise. On the other hand pair also seems like experiencing resistance from the falling resistance trend line. In all the trend seems bearish to me and according to the descending triangle pattern the pair should break the support and continue to follow downtrend. Breaking below 1.6697 will confirm the bearish continuation.