GBPUSD is trading near the downward sloping trend line signifying resistance at higher levels, further on Monday the currency pair ended in a doji candlestick formation signifying indecision at higher levels. It declined from 1.3313 in the previous week suggesting selling at higher levels, short term charts corroborate the above observation signifying an impending correction. It would be prudent to say that GBPUSD could decline towards 1.3180 & 1.3130 while it sustains below 1.3260.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.