Midday update for the GBPUSD 31-05-2023
Economies.com
2023-05-31 10:07AM UTC
The GBPUSD pair declined strongly to reach the thresholds of the first waited target at 1.2345, waiting to break this level to confirm the continuation of the bearish wave and head towards the next correctional target that reaches 1.2240.
In general, the bearish trend scenario will remain valid and active for the upcoming period unless the price rallied to breach 1.2445 followed by 1.2470 levels and hold above them, noting that the EMA50 continues to support the suggested bearish wave.
The expected trading range for today is between 1.2290 support and 1.2450 resistance.
The expected trend for today: Bearish
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