GBP/USD is currently bearish in the long term, but a short-term rise towards the first resistance at 1.2766 is possible. The level is a pullback resistance and a potential point for the price to reverse, potentially dropping to the first support at 1.2421. Breaking below this level could lead to further drops in the long term. While there is an intermediate resistance at 1.2634, the overall momentum is still bearish, making any rise towards the first resistance level an opportunity to sell and take advantage of the long-term trend.The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD is currently bearish in the long term, but a short-term rise towards the first resistance at 1.2766 is possible. The level is a pullback resistance and a potential point for the price to reverse, potentially dropping to the first support at 1.2421. Breaking below this level could lead to further drops in the long term. While there is an intermediate resistance at 1.2634, the overall momentum is still bearish, making any rise towards the first resistance level an opportunity to sell and take advantage of the long-term trend.The material has been provided by InstaForex Company – www.instaforex.com
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