GBPUSD continues to decline
Updated
Hello dear friends!
What do you think, will GBPUSD rise or fall today?
Currently, GU is fluctuating around the price level of 1.210 with a slight decline. It can be observed that GBP/USD is gradually losing points, closing at 1.2100 after disappointing Retail Sales data in the UK with -0.9% MoM in September. Escalating tensions in the Middle East continue to support the US dollar, putting pressure on this currency pair.
From the chart, if GBP/USD confirms 1.2100 (a psychological and static level) as a resistance level, we may witness additional losses towards 1.2050 (the recent downtrend's end point) and 1.2000 (a psychological and static level) as indicated by Fibonacci.
What do you think, will GBPUSD rise or fall today?
Currently, GU is fluctuating around the price level of 1.210 with a slight decline. It can be observed that GBP/USD is gradually losing points, closing at 1.2100 after disappointing Retail Sales data in the UK with -0.9% MoM in September. Escalating tensions in the Middle East continue to support the US dollar, putting pressure on this currency pair.
From the chart, if GBP/USD confirms 1.2100 (a psychological and static level) as a resistance level, we may witness additional losses towards 1.2050 (the recent downtrend's end point) and 1.2000 (a psychological and static level) as indicated by Fibonacci.
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