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Midday update for the GBPUSD 02-08-2022
The GBPUSD pair broke 1.2230 level clearly to open the way to turn towards the decline in the upcoming sessions, targeting testing 1.2100 before turning back to resume the bullish trend again.
Therefore, the bearish bias will be expected for the rest of the day, noting that the expected decline is temporary, waiting to resume the main bullish wave, taking into consideration that breaking 1.2100 – 1.2077 levels will put the price under more negative pressure and turn the trend to the downside.
The expected trading range for today is between 1.2120 support and 1.2260 resistance.
The expected trend for today: Bearish temporarily
Midday update for the EURUSD 02-08-2022
The EURUSD pair shows clear negative trades after facing solid resistance at 1.0278, to test 1.0200 level, which urges caution from the upcoming trading, as continuing the decline and breaking this level will push the price to achieve additional decline that reaches 1.0100 before any new attempt to rise, while the price needs to breach 1.0278 to confirm rallying towards 1.0355 as a next positive target.
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