The GBP/USD continues with downtrend.
The GBP/USD continues with downtrend.
The price has reached the M L3 1.3424 and is trying to break and move lower. At this point we might see a breakout continuation below 1.3424 and the move towards 1.3350 zone. If 1.3350 breaks then the next target should be 1.3317. It’s a bearish trend now and selling the rallies is the strategy to go.
(Click on image to enlarge)
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The opinions in this article are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit transactions or clients. Past performance of the companies discussed may not continue and the companies may not achieve the earnings growth as predicted. The information in this document is believed to be accurate, but under no circumstances should a person act upon the information contained within. We do not recommend that anyone act upon any investment information without first consulting an investment advisor as to the suitability of such investments for his specific situation.
Comments
Log in or sign up to join the conversation.