The GBPUSD keeps its positive consolidation - Analysis - 16-03-2023

The GBPUSD pair attempted to break the minor support 1.2060 but it consolidates above it, to keep the chances valid to resume the bullish trend on the intraday basis, waiting to visit 1.2260 as a next main target.

Stochastic provides clear positive signals now to support the expectations to rise in the upcoming sessions, and breaching 1.2145 will ease the mission of achieving the waited positive targets.

We remind you that breaking 1.2060 will push the price to decline to test the most important support at 1.1940 before any new positive attempt.

The expected trading range for today is between 1.2000 support and 1.2160 resistance.

The expected trend for today: Bullish