Pound erases yesterday's gains 📉

2:17 PM 15 October 2020

🔽 GBPUSD accelerates the decline after returning below the 1.30 mark

During today's session we can observe the completely opposite situation on the pound than yesterday. The British currency is under selling pressure due to further restrictions in the UK. Looking at the H1 chart from a technical point of view, the head and shoulders formation is building up. This structure heralds a trend reversal. A bearish signal would be generated once the price breaks below the neckline, which lies in the vicinity of 1.2780.

GBPUSD H1 interval. Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits