25.06.2021 - Is there room for more GBP
The GBPUSD has settled for the day yesterday after the big drop but I think that it has room for more. The important resistance level is at 1.3935 and the support level at 1.3910. Breaking the wedge formation was expected to fall beyond 90 pips of course not within a day.
If the price breaks the support level 1.3910 and then the 1.3889, it should continue its downward movement. Today though is Friday with no major reports to move the markets much, so probably it will be slow.
If the price breaks the support level 1.3910 and then the 1.3889, it should continue its downward movement. Today though is Friday with no major reports to move the markets much, so probably it will be slow.