This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The British pound sterling finally broke the minor rising trend line.
This evidently saw prices breaking the medium-term trend line as well.
For the moment, prices are trading just below the key level of 1.2643.
A strong close below this level is needed to confirm further declines.
The next downside target is at 1.2516 marking the 4th June lows in the uptrend.
And a close below here will send prices down to 1.2343 where support will be coming under test next.
To keep reading this article, please navigate to: Orbex Forex Trading Blog.