Midday update for the GBPUSD 18-05-2022
Economies.com
2022-05-18 09:18AM UTC
The GBPUSD pair faces strong negative pressure to attack 1.2420 level and trades below it now, which urges caution from the upcoming trading, as confirming breaking this level will push the price to resume the main bearish wave and stop the bullish correction that dominated the recent trades, while consolidating above it will push the price to rise again and visit 1.2590 mainly.
Therefore, we prefer to stay aside until the price confirms its situation according to 1.2420 level followed by detecting the next targets clearly.
The expected trading range for today is between 1.2350 support and 1.2500 resistance.
The expected trend for today: Neutral
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