Technical analysis:
GBP/USD has been trading downside today and I found that there is important pivot zone around $1.2260.
In case of the potential rejection of the support zone, there si the chance for the upside continuation al rally towards the 1.2420-1.2450
In case of the downside breakout and hold below support zone, there is the chance for the further drop towards 1.2110
RSI oscillator is showing reading below the 60 but still above 40, which is sign that trend condition is bullish.
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
GBP/USD has been trading downside today and I found that there is important pivot zone around $1.2260.
In case of the potential rejection of the support zone, there si the chance for the upside continuation al rally towards the 1.2420-1.2450
In case of the downside breakout and hold below support zone, there is the chance for the further drop towards 1.2110
RSI oscillator is showing reading below the 60 but still above 40, which is sign that trend condition is bullish.
The material has been provided by InstaForex Company – www.instaforex.com
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