Technical analysis:
GBP/USD has been trading downside today and I see consolidation phase in play and potential for the breakout mode.
In case of the downside breakout of the support of the consolidation at 1.2114, I see potential for the further drop towards lower reference.
Downside objective is set at the price of 1.2090
RSI oscillator extreme condition around 30 level with no signs for the the reversal.
Resistance is set at the price of 1.2150
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
GBP/USD has been trading downside today and I see consolidation phase in play and potential for the breakout mode.
In case of the downside breakout of the support of the consolidation at 1.2114, I see potential for the further drop towards lower reference.
Downside objective is set at the price of 1.2090
RSI oscillator extreme condition around 30 level with no signs for the the reversal.
Resistance is set at the price of 1.2150
The material has been provided by InstaForex Company – www.instaforex.com
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