Midday update for the GBPUSD 31-03-2023
Economies.com
2023-03-31 10:47AM UTC
The GBPUSD pair tested 1.2400 barrier and bounced bearishly to trade at the intraday bullish channel’s support line, and the price needs to consolidate above this support to keep the bullish trend scenario valid for the upcoming period, as the EMA50 meets this support to add more strength to it.
Therefore, we will keep our bullish overview conditioned by the price stability above 1.2325 and 1.2270 levels, noting that our targets begin at 1.2440 and extend to 1.2610 after surpassing the previous level.
The expected trading range for today is between 1.2310 support and 1.2480 resistance.
The expected trend for today: Bullish
Forex and Currency News
Forex
Dollar moves in a positive zone as US treasury yields gian ground
2024-04-22 11:41AM UTC
Dollar rose in European trade on Monday against a basket of major rivals, resuming movements in the ...
Forex
Euro gains ground and heads for $1.07
2024-04-22 07:45AM UTC
Euro rose in European trade on Monday against a basket of major rivals, extending gains for the ...
Forex
Sterling sharpens decline to five-month nadir after weak data
2024-04-19 11:40AM UTC
Sterling tumbled in European trade against a basket of major rivals, sharpening losses for the ...
Forex Technical Analysis
Forex
The GBPCHF under the negative effect – Forecast today – 23-4-2024
2024-04-23 05:12AM UTC
GBPCHF Pair Price Analysis Expected Scenario The GBPCHF pair still affected by the ...
Forex
The EURJPY prepares for new rise – Forecast today – 23-4-2024
2024-04-23 05:01AM UTC
EURJPY Pair Price Analysis Expected Scenario No change to the EURJPY pair’s bullish ...
Forex
The GBPJPY fluctuates within the bullish track – Forecast today – 23-4-2024
2024-04-23 05:00AM UTC
GBPJPY Pair Price Analysis Expected Scenario The GBPJPY pair provided more mixed trades ...