GBP USD: Back to the downtrend
Updated
Hello traders!
At the end of the GBPUSD trading session, the pair has continued its downward trend since breaking out of the previous uptrend at 1.2758. Currently, the price is consolidating at 1.2146, following a downward channel. Furthermore, the reversal signal from the EMA reinforces the bearishness of this decline.
It is anticipated that the support level for this decline will be around 1.1816, with current resistance at 1.2305. What are your thoughts on this article? Feel free to leave your comments below!
At the end of the GBPUSD trading session, the pair has continued its downward trend since breaking out of the previous uptrend at 1.2758. Currently, the price is consolidating at 1.2146, following a downward channel. Furthermore, the reversal signal from the EMA reinforces the bearishness of this decline.
It is anticipated that the support level for this decline will be around 1.1816, with current resistance at 1.2305. What are your thoughts on this article? Feel free to leave your comments below!
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