The GBPUSD awaits confirmation signal - Analysis - 18-08-2022

The GBPUSD pair bounced downwards clearly after testing the key resistance 1.2140, to test 1.2030 support line, and as we mentioned yesterday, these levels represent the next trend keys, as the price needs to breach one of them to detect its next targets clearly.

Therefore, we will continue with our neutrality until now, and the contradiction between the technical indicators provide another reason for neutrality, reminding you that breaking the support will press on the price to start bearish wave that targets visiting 1.1930 followed by 1.1800 levels, while breaching the resistance represents the key to return to the main bullish track that its targets begin at 1.2250 and extend to 1.2400.

The expected trading range for today is between 1.1960 support and 1.2140 resistance.

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The expected trend for today: Neutral