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Midday update for the GBPUSD 18-08-2023
The GBPUSD pair returns to decline to break 1.2725 and close the last four hours’ candlestick below it, as it returns to the bearish channel that appears on the chart, waiting for more decline to visit 1.2625 as a first main target.
The technical indicators provide negative signals that support the continuation of the suggested bearish wave, which will remain valid conditioned by the price stability below 1.2725 and the most important below 1.2825.
The expected trading range for today is between 1.2660 support and 1.2825 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 18-08-2023
The EURUSD pair resumes its negative trading to move below 1.0880, reinforcing the expectations of continuing the bearish trend for the rest of the day, opening the way to head towards our next target at 1.0785.
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The GBPAUD pair hinted its surrender to the domination of the bullish bias by breaching the bearish channel’s resistance at 1.9665, recording some gains by reaching 1.9970.
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Natural gas price ended the negative fluctuation by providing new close above 2.350 extended support, to confirm its continuous affection by the domination of the previously suggested bullish bias, noticing stochastic reach to the oversold areas, to hint the beginning of getting rid of the negative pressures, to provide chances to gain new positive momentum and active the bullish track in the near term and medium-term period.
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