GBPMXN Recovers 600 Pips in 3 Days

GBPMXN CHART PRICE – GBPMXN DAILY

The pound made significant gains over the Mexican peso in the previous three trading sessions, after almost reaching its support levels at 28.68 we saw the price increase more every day, today has a small loss that could strengthen the uptrend, the relative strength index has lost less than 1% in the current session, but the bollinger bands are opening up, meaning that we could get another trend change very soon, we are getting mixed signals, in this case is better to wait, if the price continues to fall then we could place a short trade, but if it continues climbing we would wait to see if it breaks the resistance or if there is a reversal.

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.