GBP/USD may fall further to 1.2630
GBP/USD has been on the backfoot lately with price falling more than 150
pips after touching 1.2880 level a couple of weeks ago.
We witnessed a false breakout of the resistance level and since then, GBPUSD is
on a downtrend. With FOMC on Tuesday, we could have wild swings on all USD
pairs including GBP/USD.
So, we recommend traders to be careful as price could fall further to 1.26 and even
lower if Federal Reserve decision is not in line with market expecations.
pips after touching 1.2880 level a couple of weeks ago.
We witnessed a false breakout of the resistance level and since then, GBPUSD is
on a downtrend. With FOMC on Tuesday, we could have wild swings on all USD
pairs including GBP/USD.
So, we recommend traders to be careful as price could fall further to 1.26 and even
lower if Federal Reserve decision is not in line with market expecations.
Kommentar:
That being said, we are seeing some amount of support in the 4H chart. So, if the 1.2620 level holds, price could make a recovery to 1.2750 or beyond
Kommentar:
Price is still hovering around the 4H dynamic support level