The GBPUSD breaks the support - Analysis - 03-02-2023
4 months ago

The GBPUSD pair broke 1.2320 level clearly and declined strongly to break the bullish channel’s support line that appears on the chart, to turn to decline on the intraday basis and head towards achieving expected bearish correction, targeting 1.2090 followed by 1.1940 levels as main negative stations.


Therefore, the bearish bias will be suggested for today, supported by moving below the EMA50, noting that breaching 1.2265 will stop the negative scenario and push the price back to the main bullish track again.


The expected trading range for today is between 1.2110 support and 1.2290 resistance.


The expected trend for today: Bearish

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