The GBPUSD breaks the first support – Analysis - 08-11-2019
Economies.com
2019-11-08 05:37AM UTC
The GBPUSD pair managed to break 1.2840 level and hold below it, starting to press on 1.2800 level now, which supports the continuation of our bearish overview in the upcoming sessions, waiting to confirm the completion of the double top pattern that will push the price to decline towards 1.2670 level that represents our next main target.
Therefore, the bearish bias will remain dominant on the intraday basis, noting that breaching 1.2840 followed by 1.2865 levels will stop the expected decline and push the price to rise again.
The expected trading range for today is between 1.2720 support and 1.2900 resistance.
The expected trend for today: Bearish
Forex and Currency News
Forex
Yen moves in negative zone under supervision of Japanese authorities
2024-05-08 04:36AM UTC
Yen declined on Wednesday in Asian trade against a basket of major rivals, extending losses for the ...
Forex
Dollar regains footing ahead of important Fed remarks
2024-05-07 11:34AM UTC
Dollar rose in European trade on Tuesday against a basket of major rivals, holding ground above ...
Forex
Yen extends losses as intervention momentum from Japanese authorities fades
2024-05-07 04:03AM UTC
Yen lost ground in Asian trade against a basket of major rivals, heading for the second loss in a ...
Forex Technical Analysis
Forex
The NZDUSD price forecast update 08-05-2024
2024-05-08 09:36AM UTC
NZDUSD Price Analysis Expected Scenario The NZDUSD price presses on the key support ...
Forex
The AUDUSD price forecast update 08-05-2024
2024-05-08 09:36AM UTC
AUDUSD Price Analysis Expected Scenario The AUDUSD price achieved initial break to ...
Forex
The GBPUSD forecast update 08-05-2024
2024-05-08 09:36AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price achieved initial break to ...