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Midday update for the GBPUSD 02-05-2023
The GBPUSD pair faces additional negative pressure to attack the bullish channel’s support line and attempts to hold below it, to hint heading to turn to decline and start bearish correction for the rise that started from 1.1800 areas, paving the way to achieve negative targets that start by visiting 1.2400 areas.
Therefore, the bearish bias will be suggested for the rest of the day, noting that breaching 1.2475 followed by 1.2495 levels will stop the expected decline and lead the price to resume the main bullish track again.
The expected trading range for today is between 1.2400 support and 1.2520 resistance.
The expected trend for today: Bearish for the rest of the day
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Midday update for the EURUSD 02-05-2023
The EURUSD pair shows more bearish bias to achieve our waited target at 1.0945, and we suggest the continuation of the negative pressure to break this level and open the way to achieve more bearish correction that its next target reaches 1.0860.
MoreThe NZDCAD presses on the moving average – Analysis – 2-5-2023
The NZDCAD pair renewed the positive trades, attempting to hold above the major support 0.8240, to notice renewing the positive pressure on the MA55 that formed an obstacle against the bullish attempts by settling at 0.8400.
MoreNatural gas price needs an exit – Analysis – 2-5-2023
Natural gas price continuous fluctuation within the sideways track between 2.500 resistance and 1.950 support allows us to stay neutral for today, waiting to get new signal by surpassing one of the mentioned levels to manage to detect the next targets.
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