GBPUSD: signs of price increase does not appear
Updated
Hello dear friends!
It seems that GBPUSD has turned around and started to decline again.
As Karina mentioned in the previous article, GBPUSD had been increasing after receiving support at the 1.206 level. However, it is expected to be pushed back when it encounters resistance at 1.232. This can be considered a price correction as there is no evidence yet of a reversal in the downward trend of this currency pair.
The EMA signal also supports the downward trend as the price developed and tested the EMA 34 region but was immediately pushed back. The price on the chart is showing signs of a breakout. If the price falls below this support level at 1.206, there will be nothing to stop GBPUSD from dropping further to around 1.108.
Do you agree with Karina's article? Good luck to you !
It seems that GBPUSD has turned around and started to decline again.
As Karina mentioned in the previous article, GBPUSD had been increasing after receiving support at the 1.206 level. However, it is expected to be pushed back when it encounters resistance at 1.232. This can be considered a price correction as there is no evidence yet of a reversal in the downward trend of this currency pair.
The EMA signal also supports the downward trend as the price developed and tested the EMA 34 region but was immediately pushed back. The price on the chart is showing signs of a breakout. If the price falls below this support level at 1.206, there will be nothing to stop GBPUSD from dropping further to around 1.108.
Do you agree with Karina's article? Good luck to you !
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Note
Following a bearish opening, the UK's FTSE 100 Index stretched lower and was last seen losing nearly 1% on the day. Meanwhile, the S&P 500 Futures were down 0.6% at the time of press.Note
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