FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD price tested the 1.2566 level and bounced down from there after this level held well against the positive attempts, heading towards resuming the main bearish wave, on its way to visit the 1.2400 level which represents our next main target.

Which will remain valid unless the price rushes to break the 1.2566 then 1.2585 levels and stabilizes above them.

EUR/USD price trades rebounded significantly downward, starting to pressure the 1.0355 level, leading the price to resume the downward trend and head towards achieving negative targets that we expect to start at 1.0275 and extend to 1.0220.

Therefore, the downward trend will be likely for today, taking into account that breaching the 1.0425 and then 1.0455 levels will stop the downward wave and lead the price to start an upward correction in the immediate and short term.