The GBPUSD forecast update 22-04-2024
The GBPUSD price resumes its negative trading to move away from 1.2385$ level, which supports the continuation of the expected bearish trend for today, waiting to visit 1.2265$ as a next main target.
The bearish correction continues, and holding below 1.2385$ represents initial condition to the continuation of the expected decline, as breaching it will push the price to start recovery attempts and head towards 1.2480$ initially.
The expected trading range for today is between 1.2300$ support and 1.2460$ resistance.
Trend forecast: Bearish
The EURUSD price forecast update - 22-04-2024
The EURUSD price didn’t show any strong move since morning, to remain stable around 1.0650$ level, thus, no change to the expected bearish trend scenario for today, which depends on the price stability below 1.0715$ level, supported by the negative pressure formed by the EMA50, reminding you that our targets begin by breaking 1.0615$ to open the way to head towards 1.0520$.
The expected trading range for today is between 1.0580$ support and 1.0725$ resistance.
Trend forecast: Bearish
The EURGBP exits the bearish track – Forecast today – 22-4-2024
EURGBP Pair Price Analysis
Expected Scenario
- The EURGBP pair formed a strong bullish rally last Friday, surpassing the bearish channel’s resistance at 0.8560 and confirming a move to the bullish track by surpassing the MA55 and settling near 0.8610.
- We expect to form additional support by the MA55 at 0.8578. Additionally, stochastic provides positive momentum to the price, suggesting achieving additional gains that might extend towards 0.8630 and 0.8665 levels soon.
Expected Trading Range
Between 0.8590 support and 0.8630 resistance.
Trend Forecast: Bullish
Natural gas price moves within tight range – Forecast today – 22-4-2024
Natural Gas Price Analysis
Expected Scenario
- Natural gas price has maintained its stability within a tight negative track recently, with continuous fluctuation near the $1.750 level, attempting to gather the required additional negative momentum to activate a negative attack and renew pressure on the historical support at $1.540.
- The chart shows stochastic negative momentum signals that agree with the MA55, crawling towards the $2.000 barrier, confirming the preparation to form new negative waves in the near-term period and target the historical support. Breaking it will push the price to start targeting new negative stations, possibly extending towards $2.220 and $2.090 levels.
Expected Trading Range
Between $1.850 support and $1.540 resistance.
Trend Forecast: Bearish