The GBPUSD begins bullish correction - Analysis - 17-05-2022
Economies.com
2022-05-17 04:01AM UTC
The GBPUSD pair breached the bearish channel’s resistance and settled above it, to start bullish correction for the decline that started from 1.3300 areas, targeting testing 1.2423 level initially.
Therefore, the bullish bias will be suggested for today, and breaching 1.2330 will ease the mission of achieving the mentioned target, while the expected rise will remain valid unless breaking 1.2250 and holding below it.
The expected trading range for today is between 1.2250 support and 1.2420 resistance.
The expected trend for today: Bullish
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