FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD price rebounded downwards after retesting the broken neckline of the head and shoulders pattern, resuming the expected downward trend in the immediate and short term, on its way to achieving negative targets reaching 1.2400.

Therefore, we are waiting for more expected declines during the coming period, noting that breaching 1.2605 will push the price to turn higher and build an upward wave targeting the 1.2735 level initially.

The EUR/USD price returned to decline after the temporary rise it witnessed yesterday, to resume the expected bearish wave on the intraday basis, whose targets begin with testing the 1.0333 level, which breaking it represents the key to heading towards 1.0250 as the next main station.

While breaking 1.0475 will push the price to achieve additional gains and make an upward correction, with its next target reaching the 1.0563 areas.