Midday update for the GBPUSD 19-05-2023
Economies.com
2023-05-19 09:27AM UTC
The GBPUSD pair shows sideways trades since morning, keeping its stability below the broken neckline of the head and shoulders’ pattern, to keep the negative effect of this pattern active, waiting to test 1.2345 as a next station, reminding you that breaking this level will push the price to 1.2240 as a next target.
In general, we will continue to suggest the bearish trend for today unless breaching 1.2440 followed by 1.2470 levels and holding above them.
The expected trading range for today is between 1.2310 support and 1.2470 resistance.
The expected trend for today: Bearish
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