GBPUSD broke below 1.2905 support, suggesting that the upside movement from 1.1958 had completed at 1.3514 already.
GBPUSD broke below 1.2905 support, suggesting that the upside movement from 1.1958 had completed at 1.3514 already.
A further decline would likely be seen in a couple of weeks and the next target would be at 1.2500 area.
Resistance is located at the falling trend line on the daily chart and only a break of the trend line resistance could trigger another rise towards 1.4000.
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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