• Nov 13, 2024
  • Trade ideas

GBPUSD: The End of the Fall?

GBPUSD, Daily

GBPUSDDaily.png

In the Daily timeframe, GBPUSD reached 61.8 Fibonacci after a rapid fall. The price crossed the MA200 and the lower Bollinger line, while CCI indicates a large oversold.

  • A drop below the 1.2730 support will drop the price even lower to 1.2620;
  • A rebound from support will return GBPUSD to 1.2870, and if the correction continues to 1.3000;
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Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Egor Schmidt