The GBPUSD gets a negative close - Analysis - 26-05-2023

Economies.com
2023-05-26 04:11AM UTC

The GBPUSD pair managed to break 1.2345 level and close the daily candlestick below it, which supports the continuation of the correctional bearish trend on the intraday and short term basis, opening the way to head towards 1.2240 as a next main target.

 

Therefore, we are waiting for more expected decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, being aware that breaching 1.2345 will push the price to attempt to recover and head to test 1.2435 followed by 1.2470 areas before any new negative attempt.

 

The expected trading range for today is between 1.2240 support and 1.2390 resistance.

 

The expected trend for today: Bearish

Forex and Currency News

GBP/USD news

Forex

Sterling sharpens decline to five-month nadir after weak data
2024-04-19 11:40AM UTC
Sterling tumbled in European trade against a basket of major rivals, sharpening losses for the ...
EUR/USD news

Forex

Euro approaches week high amid positive outlook
2024-04-18 08:30AM UTC
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex News

Forex

Dollar gives up five-month high on profit-taking
2024-04-17 10:56AM UTC
The dollar lost ground in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

GBP USD Analysis

Forex

The GBPUSD forecast update 19-04-2024
2024-04-19 10:43AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price trades with clear positivity to ...
EUR USD Analysis

Forex

The EURUSD price forecast update - 19-04-2024
2024-04-19 10:43AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price finds solid support at the ...
Technical Analysis

Forex

The NZDCAD surrenders to the resistance line stability – Forecast today – 19-4-2024
2024-04-19 08:21AM UTC
NZDCAD Pair Analysis Expected Scenario The NZDCAD pair has confirmed its submission to ...