Hey, do you think GBPUSD will increase or decrease in price?
Today, GBPUSD slightly rose with a recovery level at 1.265 and a 0.07% increase throughout the day. However, this currency pair is still being constrained below the resistance level at 1.27 and is in a downward trend.
The market has remained relatively calm as there have been no high-level data releases on the past Monday. Therefore, investors may pay attention to the risk perception and comments from Federal Reserve officials at the end of the day.
In the event that GBP/USD closes below 1.264 on the 4-hour chart, it could accelerate the downward momentum even further, potentially reaching 1.206 and 1.257.
Today, GBPUSD slightly rose with a recovery level at 1.265 and a 0.07% increase throughout the day. However, this currency pair is still being constrained below the resistance level at 1.27 and is in a downward trend.
The market has remained relatively calm as there have been no high-level data releases on the past Monday. Therefore, investors may pay attention to the risk perception and comments from Federal Reserve officials at the end of the day.
In the event that GBP/USD closes below 1.264 on the 4-hour chart, it could accelerate the downward momentum even further, potentially reaching 1.206 and 1.257.
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GBPUSD broke through analytical resistance!
