The GBPUSD keeps its negative stability - Analysis - 04-03-2021
Economies.com
2021-03-04 05:13AM UTC
The GBPUSD pair bounced downwards clearly after testing 1.4000 barrier yesterday, to start pressing on the minor bullish channel’s support line that appears on the chart, which hints the price head to resume the recently suggested negative scenario, affected by the formation of the head and shoulders’ pattern.
Therefore, all we need is to break 1.3910 to confirm rallying towards 1.3775 followed by 1.3665 as main negative targets, taking into consideration that the continuation of the expected decline requires holding below 1.4000.
The expected trading range for today is between 1.3840 support and 1.4000 resistance.
The expected trend for today: Bearish
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