GBP/USD is limited to downtrend

The GBP/USD pair, despite some reduction of political risks in the UK and stabilization of the British pound, looks very overbought, especially against the background of recent growth and upward dynamics of the US dollar.

The GBP/USD pair is trading in a downtrend, limited to the resistance level of 1.2500 and 1.2470.

Sales should be considered on the resumption of the downward trend and breaking the support levels: 1.2460-50.

Goals and significant support are located at the levels: 1.2400 and 1.2380.

Read also: “Changeable and unchanging things in the foreign exchange market
or adaptation is the way to profit”

Hanzenko Anton

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