FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD price is still under strong negative pressure as it is at 1.22741 levels and succeeded in holding below 1.22944 so far after this level held well against positive attempts, heading towards resuming the main bearish wave, on its way to visit 1.22724 level which represents our next main target.

Which will remain valid unless the price rushes to break 1.22905 then 1.23043 levels and hold above them.

The EUR/USD price rebounded significantly, starting to put pressure on the 1.02813 level, which leads the price to resume the downtrend and head towards achieving negative targets that we expect to start at 1.02765.

Therefore, the downtrend will be likely for today, taking into account that breaching the 1.03023 levels will stop the downtrend and lead the price to start an upward correction in the short and immediate term.