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Midday update for the GBPUSD 22-02-2023
The GBPUSD pair resumes its negative trading to test the EMA50 that forms key support at 1.2065, waiting to break this level to confirm opening the way to extend the expected bearish wave for today, which targets testing 1.1940 initially.
Stochastic shows negative signals that support the expected decline, which will remain valid unless the price rallied to breach 1.2170 and hold above it.
The expected trading range for today is between 1.2020 support and 1.2180 resistance.
The expected trend for today: Overall bearish
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Midday update for the EURUSD 22-02-2023
The EURUSD pair didn’t show any strong move since morning, thus, no change to the expected bearish trend for today, which depends on the price stability below 1.0745, supported by the negative pressure formed by the EMA50, waiting to break 1.0650 to confirm opening the way to rally towards 1.0515 as a next main station.
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MoreThe EURGBP postpones the rise – Analysis – 22-2-2023
The EURGBP pair faced strong negative pressures recently due to stochastic crawl below 50 level, to force it to postpone the bullish attack and decline below the additional support at 0.8830, to suffer intraday losses by moving towards 0.8805.
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