- Analytics
- News and Tools
- Market News
- GBP/USD set to challenge the 1.22 mark
GBP/USD set to challenge the 1.22 mark
GBP/USD has suffered heavy losses at the beginning of the week. As FXStreet’s Eren Sengezer notes, 1.22 is under threat.
A recovery in the current market environment seems unlikely
“The risk-averse market environment makes it difficult for the pair to stage a rebound.”
“If the pair were to stage a technical correction, 1.2270 (static level, former support) aligns as first resistance ahead of 1.23 (psychological level).”
“With a daily close above 1.23, sellers could book their profits and move to the sidelines, allowing the pair to extend its recovery toward 1.2350 (static level).”
“On the downside, 1.220 (psychological level) could be seen as the next bearish target ahead of 1.2155 (two-year low set on May 13).”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
