FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD price traded positively yesterday to reach the outskirts of 1.2735, and we notice that the price is consolidating below this level to start providing slight negative trades, indicating a trend to resume the expected downtrend on the short-term, which targets the 1.2566 level as the next main station.

Therefore, we continue to favor the downtrend provided that it remains below 1.2735, as breaking it represents the key to starting an upward wave whose next main target reaches the 1.2866 areas.

The EUR/USD price has been fluctuating within a sideways range in the past sessions, and therefore, there is no change in the expected downward trend scenario for the coming period, whose targets begin with breaking the 1.0475 level to open the way to visit the 1.0400 level as a next negative station.

Remember that the continuation of the downward wave depends on stability below the 1.0563 level.