empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

16.07.202013:30 Forex Analysis & Reviews: GBP/USD analysis for July 16, 2020 - Potential for bigger drop towards the 1.2450

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical analysis:

Exchange Rates 16.07.2020 analysis

GBP has been trading downwards. I expect further downside movement due to potential C leg in creation. Potential test of 1,2480 and 1,2450 in play.

Trading recommendation:

Watch for potential selling opportunities with targets at 1,2480 and 1,2450

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

Petar Jacimovic
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off