GBP/USD is facing resistance at 1.3228. Above this level will indicate that the downside movement from 1.3337 had completed at 1.3087 already. Then a further rally can be seen and the next target would be at 1.3337 resistance.
GBP/USD is facing resistance at 1.3228. Above this level will indicate that the downside movement from 1.3337 had completed at 1.3087 already. Then a further rally can be seen and the next target would be at 1.3337 resistance.
However, as long as the1.3228 resistance holds, the downtrend from 1.3337 could be expected to continue and deeper decline towards the major support trend line on the daily chart is possible.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
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