- GBP/USD Analysis
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GBP/USD Analysis
The GBP/USD pair tested the 1.2200 barrier, showing sideways trades in the previous sessions, accompanied by stochastic losses to the positive momentum and reaching the overbought areas, to form a negative motive that supports the chances of resuming the expected bearish trend on an intraday basis, with its next target located at 1.2170.Therefore, we will continue to suggest a bearish trend for the upcoming period, and breaking the mentioned level will extend the bearish wave to reach 1.2037, while breaching 1.2297 will stop the current negative pressure and push the price to start new recovery attempts. The expected trading range for today is between 1.2140 support and 1.2280 resistance.
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