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

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