GBP/USD broke below 1.2960 support, suggesting that the upside movement from 1.2396 had completed at 1.3381 already. A further decline could be expected in a couple of weeks and the next target would be at the 1.2600 area.
GBP/USD broke below 1.2960 support, suggesting that the upside movement from 1.2396 had completed at 1.3381 already. A further decline could be expected in a couple of weeks and the next target would be at the 1.2600 area.
Resistance is located at the falling trend line on the daily chart, only a break above the trend line resistance could bring the price back to the 1.3200 area.
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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