FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD price reached the 1.2500 barrier, and we are waiting for the resumption of the downward wave targeting the 1.2400 level as the next main station.

The descending channel continues to organize the proposed downward wave, which will remain in place unless the price rushes to break the 1.2605 level and stabilizes above it.

The EUR/USD price traded with noticeable negativity in the past sessions to approach the first expected target at 1.0333, and we notice that the price starts today with an upward trend, and needs to obtain a negative incentive that pushes the price to resume the main bearish wave whose targets extend to reach 1.0250 after breaking the previous level.

On the other hand, it should be noted that breaching 1.0385 will stop the negative scenario and lead the price to achieve additional gains and test the 1.0475 areas before any new attempt to decline.