The GBPUSD consolidates below the resistance - Analysis - 14-09-2023
1 week ago

The GBPUSD pair approached 1.2400 barrier and bounced bullishly to settle around 1.2505 again, keeping its consolidation below it, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the bearish trend that targets 1.2400 followed by 1.2310 level as next main stations.


Therefore, we will continue to suggest the bearish trend on the intraday and short-term basis, noting that breaching 1.2505 will push the price to recover and achieve gains that reach 1.2625 before any new attempt to decline.



The expected trading range for today is between 1.2400 support and 1.2550 resistance.


The expected trend for today: Bearish

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