GBPUSD Technical Analysis - Sterling Pound in a Downfall - Uniglobe Markets

GBPUSD Technical Analysis – Sterling Pound in a Downfall

Posted on July 11, 2018 at 08:11 AM

The GBPUSD could not break through 1.3313 after the first trading day of the week, contrary to all expectations; it is trading in a descending path towards 1.3216

In the long term we see that the pair will be trading in a downtrend towards 1.3099 trying again to breach those levels, the strength of the return will be connected to the strength of the dollar in the coming days

Support: 1.3099 – 1.1540

Resistance: 1.3313

The general trend: the direction of the GBPUSD is definitely a trend towards the 1.3099 levels, but minor corrections should be considered between 1.3313 and 1.3099

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