The end of last week trades saw continuing rising the GBP/USD pair till it reached the resistance
level 1.6290, whereas failing broking this level up, that was a sign on declining the pair again to test
the nearest resistance levels, at the end of last week trades within the beginning of this week
trades it's noticed that the main currencies are dropping sharply against the U.S dollar, therefore it's
expected during the next trades a further drop for the pair but if the support level 1.6185 broken
down; the pair will target the next support level at 1.6105, breaking this level also will confirm
continuing forming the bearish direction for the medium and long-terms.
This expectation depends on the stability of the resistance level 1.6290.
No comments:
Post a Comment