GBP: Negative pressure remains 15/10/2024

The bearish trend continues to dominate the movements of the British pound against the U.S. dollar, maintaining its negative stability below the psychological barrier of 1.3100.

Today, the outlook remains negative, supported by the pressure exerted by the simple moving averages from above. The price’s temporary stability below 1.3120 reinforces the bearish trend. The current target is 1.3000, and a break below this level could lead to further losses, with the next potential target at 1.2930.

However, if the pair consolidates above 1.3100 and, more importantly, above 1.3120, it could signal an attempt to build an upward wave in the short term, targeting 1.3160 and potentially extending to 1.3210.

Warning: The risk level is high due to ongoing geopolitical tensions, and all scenarios are possible.

Disclaimer: Trading in CFDs carries inherent risks. The analysis provided herein is not a recommendation to buy or sell, but rather an interpretation of the current price movement on the chart.

S1: 1.3000	R1: 1.3090
S2: 1.2975	R2: 1.3120
S3: 1.2930	R3: 1.3160