Correction is expected
At the moment we expect a correction. The pair updated the annual minimums by finding the support level at the 1.2680 mark and moved to flat.
Considering the fundamental factors, we believe that the dollar will continue to strengthen against the British pound and the pair will continue to decline.
However, at the moment we see that the pair is in correction and is consolidating near the level of 1.2740. We regard this level as a resistance level and depending on the close of the current candlestick, we should consider positions for entering the market. Levels of support and resistance should be considered at the marks of 1.28, 1.2780, 1.27, 1.2680.
Considering the fundamental factors, we believe that the dollar will continue to strengthen against the British pound and the pair will continue to decline.
However, at the moment we see that the pair is in correction and is consolidating near the level of 1.2740. We regard this level as a resistance level and depending on the close of the current candlestick, we should consider positions for entering the market. Levels of support and resistance should be considered at the marks of 1.28, 1.2780, 1.27, 1.2680.
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