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The GBPUSD finds solid support - Analysis - 17-08-2022
The GBPUSD pair couldn’t manage to break 1.2030 level, to rebound upwards strongly and approaches testing the previously broken support of the bullish channel that turns into key resistance now at 1.2140, to face contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend.
Note that the continuation of the bullish bias and breaching the mentioned resistance will push the price back to the main bullish track to head towards achieving gains that start at 1.2250 and extend to 1.2400, while breaking 1.2030 support line represents negative factor that will press on the price to decline strongly towards 1.1930 followed by 1.1800 areas.
The expected trading range for today is between 1.2010 support and 1.2200 resistance.
The expected trend for today: Neutral
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