FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD price is facing negative pressure to head towards a possible test of the 1.2415 level, noting that the price is moving within an ascending intraday channel that supports the chances of continuing the upward corrective trend during the upcoming sessions, whose next target is at 1.2609.

Which will remain valid unless the 1.2415 level is broken and a daily close is maintained below it.

The EUR/USD price opened today's trading with a strong decline, breaking the 1.0455 level and closing the first four-hour candle below it, to fall under expected negative pressure during the upcoming sessions and head towards achieving negative targets that begin with testing the 1.0325 areas.

Therefore, the bearish bias will be likely for today, noting that trading above 1.0455 again will reactivate the bullish corrective scenario that targets the 1.0600 level as the next positive station.