The GBP/USD chart shows a bearish momentum, but there is a major ascending trend line that suggests possible bullish momentum ahead. In the short term, the price may drop to the first support at 1.2467, which is a significant level with pullback support and Fibonacci retracement. The second support at 1.2392 also provides additional support. On the upside, the first resistance at 1.2575 and the second resistance at 1.2651 act as pullback resistance levels. The RSI shows bearish divergence, hinting at a potential reversal.
The material has been provided by InstaForex Company – www.instaforex.com
The GBP/USD chart shows a bearish momentum, but there is a major ascending trend line that suggests possible bullish momentum ahead. In the short term, the price may drop to the first support at 1.2467, which is a significant level with pullback support and Fibonacci retracement. The second support at 1.2392 also provides additional support. On the upside, the first resistance at 1.2575 and the second resistance at 1.2651 act as pullback resistance levels. The RSI shows bearish divergence, hinting at a potential reversal.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: