The GBPUSD breaks the support - Analysis - 19-05-2022
2022-05-19 04:08AM UTC

The GBPUSD pair broke 1.2420 level clearly and ended yesterday below it, to stop the bullish correction and head towards resuming the main bearish trend again, on its way to achieve negative targets that start at 1.2300 and extend to 1.2150.


Therefore, we are waiting for more expected decline on the intraday and short term basis, noting that breaching 1.2420 will lead the price to achieve new bullish correction that its next target located at 1.2590.



The expected trading range for today is between 1.2285 support and 1.2440 resistance.


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The expected trend for today: Bearish

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