Midday update for the GBPUSD 02-02-2023
The GBPUSD pair fluctuates with slight negativity to test the EMA50, affected by stochastic negativity, and as long as the price is above 1.2320, our bullish overview will remain valid for today, waiting to get positive motive that assists to push the price to achieve our targets that start at 1.2440 and extend to 1.2595 after breaching the previous level.
The expected trading range for today is between 1.2320 support and 1.2480 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 02-02-2023
The EURUSD pair faces solid resistance at 1.1030, to show some bearish bias now, which urges caution from the upcoming trading, as continuing the decline and breaking 1.0940 will push the price to achieve more bearish bias and visit the bullish channel’s support line around 1.0815 before any new attempt to rise.
The expected trading range for today is between 1.0950 support and 1.1110 resistance.
The expected trend for today: Bullish
The EURGBP continues to rise – Analysis – 2-2-2023
The EURGBP pair succeeded to resume the bullish attack to surpass 0.8870 level and provide positive close above it as appears on the chart, to record some additional gains by touching 0.8900 level.
Note that the main stability within the bullish channel and the major indicators attempt to provide the additional positive momentum support the positive attempts for the near term and medium term period, to keep waiting to achieve new gains that might start at 0.8925 and 0.8970.
The expected trading range for today is between 0.8870 and 0.8970
The expected trend for today: Bullish
Natural gas price continues to crawl negatively – Analysis – 2-2-2023
Natural gas price renewed the negative crawl, surrendering to the main stability within the bearish channel and the negative momentum coming by the major indicators, to settle near 2.500, while we will keep waiting to target the bearish channel’s support line at 2.180, noting that that breaking this support will force it to move to new negative track and suffer additional losses by moving towards 1.500 direct, which forms strong historical support line.
The expected trading range for today is between 2.750 and 2.180
The expected trend for today: Bearish