Hey GBPUSD traders! What's your take today—buy or sell GBPUSD?
The pair recently saw a gentle recovery, reaching 1.257, marking its best rebound in a week. Yet, GBPUSD's recovery may hit a few roadblocks ahead.
The downtrend still dominates, with trading below the EMA 34 and 89 lines signaling caution for buyers. Moreover, the pair's retreat to the perfect 0.618 level provides a prime opportunity for sellers to step in again and push the price to new lows.
The pair recently saw a gentle recovery, reaching 1.257, marking its best rebound in a week. Yet, GBPUSD's recovery may hit a few roadblocks ahead.
The downtrend still dominates, with trading below the EMA 34 and 89 lines signaling caution for buyers. Moreover, the pair's retreat to the perfect 0.618 level provides a prime opportunity for sellers to step in again and push the price to new lows.
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