Advertisements

GBPUSD Faces Negative Momentum: Forecast for July 9, 2024

by Daisy

The GBPUSD pair has encountered downward pressure following its approach to the $1.2845 mark, driven by a bearish trend indicated by the Relative Strength Index (RSI). Despite this, the 50-period Exponential Moving Average (EMA50) remains a stabilizing factor, offering crucial support and setting the stage for a potential resurgence towards its next target at $1.2890.

Sustaining levels above $1.2800 is pivotal for the anticipated upward trajectory. However, a breach below this threshold could trigger intraday losses, potentially testing the $1.2700 mark before establishing a clearer direction.

Advertisements

Expected Trading Range:
Support: $1.2740
Resistance: $1.2890

Advertisements

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News