FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD price rebounded significantly after the 1.2300 level consolidated against the recent negative attempts, and we prefer to remain neutral until the price confirms its position regarding the pivotal levels represented by the 1.2440 levels.

We note that continuing the rise and breaking this resistance will push the price to start an upward correction whose first main target is at 1.2610, while breaking the support represents the key to resuming the main bearish trend and heading towards achieving negative targets that begin by visiting the 1.2210 areas.

The EUR/USD pair rose to test the 1.0455 level, providing signals of an additional upward correction during the upcoming sessions, noting that breaching this level will push the price to visit the 1.0600 level.

Therefore, the upward trend will be likely for today, noting that failure to breach 1.0455 will pressure the price to decline again and head towards testing the 1.0325 areas initially.