GBP/USD analysis for June 29, 2023 – Breakout of the rising trendline and potential for the further drop
June 28, 2023 1:24 pm
Technical analysis:
GBP/USD has been trading downside as I expected and the price reached first downside objective at 1.2660. I still see potential for the further drop towards lower level at 1.2500
Due to the breakout of the rising trend-line and strong downside momentum, I see potential for the further drop towards lower reference.
Downside objective is set at the price of 1.2510
MACD oscillator is showing strong downside momentum, which is good confirmation for the further drop.
Key resistance is set at the price of 1.2760
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
GBP/USD
has been trading
downside as I expected and the price reached first downside objective
at 1.2660. I still see potential for the further drop towards lower
level at 1.2500
Due
to the breakout of the rising trend-line and strong downside momentum,
I see potential for the further drop towards lower reference.
Downside
objective is set at the price of 1.2510
MACD
oscillator is showing strong downside momentum, which is good
confirmation for the further drop.
Key
resistance is set at the price of 1.2760
The material has been provided by InstaForex Company – www.instaforex.com
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