FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD price dropped sharply yesterday after the positive attempts it witnessed in the previous sessions, to exceed the 1.2566 level and reach the 1.2505 level, noting that the price broke the last level to open the way to continue the decline in the immediate and short term, noting that the next target reaches 1.2400.

Therefore, we expect to witness more bearish bias during the upcoming sessions, taking into consideration that breaching the 1.2566 then 1.2605 levels will stop the bearish trend and lead the price to start recovery attempts in the immediate term.

EUR/USD price trades rebounded downwards after testing the 1.0400 levels in the past sessions, to approach the 1.0333 level again, and the price needs to break this level to rush towards the 1.0250 level, which represents our next negative target.

Therefore, we continue to favor the downward trend in the coming period, noting that breaking the 1.0420 and then 1.0475 levels will stop the downward wave and lead the price to turn higher.