FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD price was able to break the descending channel line and stabilize below the 1.22944 levels so far after this level held up well against the positive attempts, heading towards resuming the main bearish wave, on its way to visit the 1.22724 level which represents our next main target.

Which will remain valid unless the price rushes to break the 1.22944 levels then 1.23081 and stabilize above them.

The EUR/USD price rebounded significantly, starting to put pressure on the 1.03036 level, which leads the price to resume the downtrend and head towards achieving negative targets that we expect to start at 1.02958 and extend to 1.02881.

Therefore, the downtrend will be likely for today, taking into account that breaching the 1.03169 levels will stop the downtrend and lead the price to start an upward correction in the short and immediate term.