GBPMXN Gets A Breather

GBPMXN CHART PRICE – GBPMXN DAILY

The British pound had a bad start of the week as it closed all weeks sessions with loses, so far today it made a little bit of progress but it could still dive to its support level, the price currently trades inside the Ichimoku cloud meaning there is some uncertainty, the Relative Strength Index is gaining a few points currently at 53%, our moving averages are unaffected, but this is because our short term is 20 periods and our long term is 40, they will pretty much remain stable until they catch up this downtrend that just started 8 periods ago, I believe that the price could reach its support at 28.64 in the next few days, it’s important to close positions before the weekend close to prevent loses from gaps on the reopening of the session.

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.