FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD price showed new positive trades this morning at the 1.2300 level and tried to stabilize above it, which provided the possibility of the price heading to achieve more expected gains during the upcoming sessions, targeting a visit to the descending channel resistance around 1.2344 mainly.

But at the moment, 1.2265 was broken, thus stopping the upward trend and pressuring the price to resume the main downward trend again.

The EUR/USD price continued to rise yesterday to approach the 1.0455 level, and we are waiting for more rise as an upward correction for the decline measured from 1.1208 to 1.0221, noting that breaching 1.0455 will push the price towards 1.0600 as a next corrective target.

Therefore, the upward trend will be likely for today, taking into account that breaking 1.0325 will stop the upward wave and pressure the price to return to the main downward path again.