The GBPUSD consolidates above the critical support - Analysis - 05-08-2022
2022-08-05 04:11AM UTC

The GBPUSD pair kept its stability above 1.2077, and attempts to return to the broker bullish channel, waiting to breach 1.2165 to support the return to this channel followed by resuming the bullish trend that targets 1.2360 as a next station.


Therefore, we will keep our bullish overview unless breaking 1.2077 and holding below it, as breaking this level will put the price under negative pressure that pushes trades to return to the main bearish trend again.



The expected trading range for today is between 1.2040 support and 1.2240 resistance.


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The expected trend for today: Bullish

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