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Midday update for the GBPUSD 12-03-2020
The GBPUSD pair traded with strong negativity to reach our waited target at 1.2736, and the way seems open to break the mentioned level and extend the correctional bearish wave, noting that confirming the break will push the price to 1.2553 that represents 61.8% Fibonacci correction level.
Therefore, we will continue to suggest the bearish trend for the rest of the day, taking into consideration that failing to break 1.2736 will lead the price to start recovery attempts that target testing 1.2920 areas initially.
The expected trading range for today is between 1.2736 support and 1.2900 resistance.
The expected trend for today: Bearish
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Midday update for the EURUSD 12-03-2020
The EURUSD pair resumes its negative trades to reach our waited target at 1.1221, noting that stochastic supports the chances of breaking the mentioned level to continue the decline towards our next correctional target that reaches 1.1136.
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