See also
22.10.2023 08:27 PM
The GBP/USD pair faced a strong resistance near 1.3200 and started a fresh downtrend.
It broke the 1.2800 support level on a H4 candlestick and extended its decline towards 1.2500, where it met a crucial Fibonacci retracement level.
This could be a good opportunity for intraday traders to go long, with a stop loss just below 1.2500.
However, the pair showed some indecision in a tight range before resuming its bearish trend.
The next target for the bears could be 1.2160, which acted as a key support level last week.
A break below this level could open the doors for more losses towards 1.1850.
Conversely, any bullish recovery towards 1.2520-1.2600 could be seen as another chance to sell.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
