FXEM - EMPIRE MARKETS - Company New Article

The recent GBP/USD price trades are limited to sideways trading, therefore, the price needs to break 1.2150 to get a negative incentive that pushes the price to resume the main bearish trend, as we await targeting the 1.2045 level as the next main station.

Therefore, we continue to favor the bearish trend for the coming period unless the price rushes to break the 1.2300 level and stabilizes above it.

The EUR/USD price provided additional positive trades yesterday, noting that the Stochastic indicator continues to lose positive momentum, which supports the chances of a bearish rebound to resume the main bearish trend, waiting to break the 1.0220 level to confirm the rush towards 1.0100 as the next main target.

Stability below 1.0325 is important for the expected decline to continue, as breaking it will lead the price to achieve more gains that reach 1.0455 as the next positive station.