GBP/USD Analysis: Likely to decline
|GBP/USD
At the end of the previous trading week, the GBP/USD exchange rate decreased to the psychological level at 1.2580.
On the one hand, the rate could continue to sharp losses, as it should reach the lower boundary of the short-term descending channel located circa 1.2530 within the following trading sessions.
On the other hand, some upside potential could prevail in the market in the short term, and the currency pair could reverse north from the given level. Note, that the rate is pressured by the 55-hour SMA and weekly PP at 1.2644.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.