GBPMXN Unable To Hold Breakout

GBPMXN CHART PRICE – GBPMXN DAILY

The pound broke the support level at 27.66 on the previous session, it made it all the way down to 27.53 at some point, however it started recovering some ground and its currently up 0.10% today, we could see the price dropping again soon, but we don’t have enough evidence to support our prediction, we see the relative strength index at 43%, just slightly above the lowest level in more than 16 trading sessions, the bollinger bands shrunk a bit but they are still wide enough to expect some volatility, if the price is able to break the support level we coils see the price going to the mid 27’s, otherwise the price could bounce to the 28’s levels.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.