GBP/USD is one of the most significant pair in the forex
market. It has been reversing the trend often by the economic criteria of the
currencies. After the successive climb over the uptrend for the past ten days,
the trend has changed made a stop to overbuy. Actually, it is hard to predict
the reputed currency pair’s trend. Now USD is ready to move against the pound.
Since this week open, dollar has been showing the trend against pound. It is
accepted from the indicators behavior. The short term moving average implies
the downtrend for all this week. From this downtrend, the trend is obviously
running beyond the pivot point. GBP/USD touched its high resistance of 1.54239
after a month gap on last Wednesday.
So, it will be moving down until to reach
a valid support. The downtrend should reach the expected support point of
1.51209 by the market situation. The technical people highly believe it to be a
downtrend because of the consecutive economic releases will give favor to the
USD.
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