Midday update for the GBPUSD 05-02-2021

Economies.com
2021-02-05 10:35AM UTC

The GBPUSD pair rallies upwards to breach 1.3690 level and attempts to hold above it, which hints the price head to regain the main bullish trend, and we need to monitor the price behavior according to the mentioned level, as holding above it will push the price to continue the rise and visit 1.3815 as a next station, while trading below it will reactivate the bearish trend scenario that its main target located at 1.3495.

 

Until now, the bearish trend scenario still active unless the price closed the daily candlestick above 1.3690.

 

The expected trading range for today is between 1.3570 support and 1.3770 resistance.

 

The expected trend for today: Bearish

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