Technical analysis:
GBP/USD has been trading downside as I expected and I see potetnial for the further drop towards next downside reference.
Due to the strong downside cycle and negative reversal on RSI, I see potetnial for the further drop towards lower reference.
Downside objective is set at the price of 1.2110
RSI oscillator is showing fresh hidden bearish divergence, which is good sign for the further downside movement.
Key resistance is set at the price of 1.2265
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
GBP/USD
has been trading
downside as I expected and I see potetnial for the further drop
towards next downside reference.
Due
to the strong downside cycle and negative reversal on RSI, I see
potetnial for the further drop towards lower reference.
Downside
objective
is set at the price of 1.2110
RSI
oscillator is showing fresh hidden bearish divergence, which is good
sign for the further downside movement.
Key
resistance is set at the price of 1.2265
The material has been provided by InstaForex Company – www.instaforex.com
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