The GBPCAD continues to decline – Forecast today – 2-4-2024
Economies.com
2024-04-02 05:46AM UTC
Analysis of GBPCAD Pair Movement
- The GBPCAD pair continued to form strong negative waves, affected by the stability of 1.7122 resistance, confirming its surrender to the domination of the bearish bias by declining below the MA55 and fluctuating near 1.7030.
- Note that stochastic reach to the oversold areas will increase the negative pressures on the current trades, allowing us to keep the negative overview that might target new negative stations soon, starting from 1.6985 followed by 1.6935.
Expected Trading Range for Today
- The expected trading range for today is between 1.7050 and 1.6985
Trend forecast: Bearish
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