GBPUSD falling and reaction to the "flag" model. The price is checking the strong support level around 1,262 ... The basic context still supports the dollar.Theoretically, the currency briefcase after breaking the channel increases, the price has formed a adjustment and now is decreasing. The areas of interest in our case may be 1,260, 1,257, 1,252.
Basically, the trend of this pair of money may be due to the weaker US dollar and the market environment is psychologically avoiding risks. Traders are still cautious in the context of geopolitical tensions and mild economic calendar. Fedpeak is noticed.
There is no news until the Fed speaks, so the basic context remains the same. The market may stop and go into the consolidation process, but with the high possibility that the decline after a breakthrough 1,262 will continue ...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.