The GBPUSD breaks the support - Analysis - 01-03-2024

Economies.com
2024-03-01 08:47AM UTC

The GBPUSD pair faced clear negative pressure yesterday, as it broke 1.2650 level and closed the daily candlestick below it, which stops the recently suggested positive scenario to head towards achieving expected bearish correction in the upcoming sessions, targeting testing 1.2540 mainly.

 

Therefore, the bearish bias will be suggested for today, supported by moving below the EMA50, noting that breaching 1.2650 and holding above it again will reactivate the main bullish wave to head towards achieving gains that reach 1.2760 initially.

 

The expected trading range for today is between 1.2540 support and 1.2700 resistance.

 

The expected trend for today: Bearish

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