Technical analysis:
GBP/USD has been trading upside this morning but I see corrective phase in progress and potential for the further downside continuation.
Due to the strong downside pressure and lack for demand on the rally, I see potential for the further downside continuation.
Downisde objectives are set at the price of 1.2820 and 1.2770
Stochastic oscillator is showing overbought condition, which is sign for the potential downside rotation.
Resistance level is set at the price of 1.2900
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
GBP/USD
has been trading upside
this morning but I see corrective phase in progress and potential for
the further downside continuation.
Due
to the strong downside pressure and lack for demand on the rally, I
see potential for the further downside continuation.
Downisde
objectives are set at the price of 1.2820 and 1.2770
Stochastic oscillator is showing overbought condition, which is sign for the
potential downside rotation.
Resistance
level is set at the price of 1.2900
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: