GBP/USD Technical Analysis: July 10, 2017
The GBPUSD moved sideways amid Friday trades in daytime, however, had a nosedive on the back of stronger than anticipated American job figures.
As of this writing, we are positioned under the 1.29 region, and it shows that the downward movement will continue to move below the 1.28 mark. This is an area that offers plenty of support and should test the form downtrend line of the daily chart for it could also be significantly supportive.
The market would likely to resume its choppiness due to news releases, hence market participant should keep this in mind. A successful break down beneath 1.28 handle will open the possibility that the market would be much easier to go short, then would search for the 1.26 handle.
The market has maintained a volatile condition because the headlines do not have not clearly understand the Brexit negotiations. With that being said, it is recommended not to engage much in this market heedless of your trading course because it cou