USD/RUB: Potential Drop Ahead?

<p>Good day!</p>
<p>The price of the Russian currency broke the 70.50 horizontal level and jumped. However, the double bottom is not about to form just yet. First, the candles should secure their positions. So far, its possible that a bearish flag is about to form as the asset’s price is currently right up to its upper boundary and might drop till the 67.00 level:</p>
<p><img class="alignnone size-large wp-image-46344" src="http://blog.tickmill.com/wp-content/uploads/2020/07/1-1-1024×478.png" alt="" width="1024" height="478" srcset="https://blog.tickmill.com/wp-content/uploads/2020/07/1-1-1024×478.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/07/1-1-300×140.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/07/1-1-768×359.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/07/1-1.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>The British pound keeps going down and approaching the broken downtrend. Now, the asset’s price broke previously while it tested the interim uptrend. Getting back to the broken uptrend, the asset’s price might pull back from the broken trendline:</p>
<p><img class="alignnone size-large wp-image-46345" src="http://blog.tickmill.com/wp-content/uploads/2020/07/2-1024×478.png" alt="" width="1024" height="478" srcset="https://blog.tickmill.com/wp-content/uploads/2020/07/2-1024×478.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/07/2-300×140.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/07/2-768×359.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/07/2.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>The currency pair USD/CHF might get back to the broken horizontal level of 0.9590 and drop.</p>
<p><img class="alignnone size-large wp-image-46346" src="http://blog.tickmill.com/wp-content/uploads/2020/07/3-1024×478.png" alt="" width="1024" height="478" srcset="https://blog.tickmill.com/wp-content/uploads/2020/07/3-1024×478.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/07/3-300×140.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/07/3-768×359.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/07/3.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>Let us remind you that this material is provided for informative purposes only and cannot be considered as a direct go ahead to implement transactions in the financial markets. Trading in the financial markets is very risky.</p>
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