Midday update for the GBPUSD 08-07-2020

Economies.com
2020-07-08 10:04AM UTC

The GBPUSD pair shows some bearish bias to approach testing the support base formed above 1.2515, and the price gets positive support by the EMA50, waiting to rebound bullishly to resume the expected bullish trend for today, affected by the inverted head and shoulders’ pattern, which its next target located at 1.2777.

 

On the other hand, we should note that breaking 1.2515 and holding below it will press on the price to decline again and head towards 1.2304 areas on the near term basis.

 

The expected trading range for today is between 1.2480 support and 1.2660 resistance.

 

The expected trend for today: Bullish

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...
GBP USD Analysis

Forex

The GBPUSD forecast update 28-03-2024
2024-03-28 10:19AM UTC
GBPUSD Trading Analysis The GBPUSD price shows calm bearish bias to gradually approach our first ...