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.

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The expected trend for today: Neutral

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Indices

	Symbol	Last	Change	Chg.%
	EUR/USD	1.0182	-0.0066	0.6430%
The EURUSD gets the positive momentum – Analysis - 08-08-2022
	GBP/USD	1.2073	-0.0177	1.4429%

	Silver	19.888	-0.408	2.010%

	Oil	89.227	-4.437	4.737%
Crude oil price resumes the decline – Analysis - 08-08-2022
	Brent Oil	94.92	0.80	0.85%

	Gold	1772.580	2.280	0.129%
Gold price leans on the channel’s support line – Analysis - 08-08-2022

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