GBPUSD retreated from its lowest level in three weeks

GBPUSD – Weekly Forecast for US Binary Options

GBPUSD fluctuated in a tight range, rising during the US session to see its biggest rebound since October 4  following British Prime Minister Teresa May on the issue of her country’s exit from the European Union. Followed Tuesday by the US economy, the world’s largest economy.

At 4:31 pm GMT, the GBPUSD pair rose 0.24% to 1.2994 compared to the opening levels at 1.2963 after the pair hit a session high of 1.3044 and a three-week low of 1.2937.

GBPUSD for US binary options platforms - 24th October 2018

GBPUSD traded with a strong negative yesterday to reach our first target at 1.2962, so the negative effect of the double top pattern remains effective, with a full target at 1.2900.

The trading range for today is expected among 1.2860 support and 1.3020 support

The general trend for today is bearish

British Prime Minister Teresa Mae said that Britain would not accept any customs proposals that would separate the UK from Northern Ireland and that her government would not accept a separate customs agreement with Northern Ireland following the report on new EU proposals The United Kingdom is fully involved, but the agreement will be made separately from the UK exit agreement.

On the other hand, we followed the US economy reading Richmond Industrial Index, which showed a contraction of 15 to 29 last September, worse than expectations of a widening of the scale to 25, and attention is now focused on what will result from the expected talk of a member Federal Open Market Committee and Federal Reserve Bank of America Chairman Rafael Postek on economics at Louisiana State University in Baton Rouge.

Therefore, we believe that for US binary options platforms opportunities are available to break the current levels to continue the downside during the coming sessions, keeping in mind that the continuation of the bearish bias depends on stability below 1.3085.

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