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The GBPUSD sellers are taking the price below the 50% midpoint. Can the momentum continue?
The GBPUSD moved sharply lower yesterday after better UK CPI data. The run to the downside stalled against the 50% midpoint of the move up from the end of June low to the high reached the last week. That level came in at 1.28658. The subsequent corrective move higher saw the price move back above the broken 38.2% retracement at 1.29309. However, when that level was re-broken today (at 1.29309), sellers leaned against it and pushed the price lower in the European session.The move lower in the GBP...
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Posted: Jul 20 2023, 13:33
Author Name: forexlive
Views: 080963