The GBPUSD pair trades with clear positivity to approach retesting the broken neckline of the double top pattern that its signs appear on the chart, noticing that stochastic shows clear overbought signals, while the EMA50 meets the key resistance formed at 1.3800 to add more strength to it.

Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which targets 1.3580 as a next station, while achieving it requires holding below 1.3800.

The expected trading range for today is between 1.3660 support and 1.3830 resistance.

The expected trend for today: Bearish

Previous Analysis

Next Analysis

Main

Forex

Indices

	Symbol	Last	Change	Chg.%
	EUR/USD	1.2136	-0.0037	0.3023%
The EURUSD awaits the breach – Analysis - 12-05-2021
	GBP/USD	1.4122	-0.0014	0.1005%

	Tadawul	10322.68	86.96	0.85%

	Silver	27.346	-0.459	1.649%

	Oil	65.361	-0.031	0.047%
Crude oil price approaches the resistance – Analysis - 12-05-2021
	Brent Oil	68.55	0.41	0.60%

	Gold	1830.785	-13.440	0.729%
Gold price keeps its positive stability – Analysis - 12-05-2021

Live Forex Updates

Dollar pauses following Fed officials' comments

2021-05-11 19:33:41 GMT

Dollar falls near 3-month low

2021-05-11 12:13:08 GMT

Silver Castle Joins TASE Following Its Merger With Publicly Traded ICB

2021-05-10 22:52:22 GMT

Dollar holds after cyberattack on US fuel pipeline

2021-05-10 19:34:13 GMT

Risk Disclaimer: Economies.com is a financial portal that provides news and analysis about the different financial markets. The articles that we serve on the portal depend solely on the opinion and analysis of our economists which in no way are intended to incite a visitor of the website or an investor to trade or sell/buy a certain instrument. It is the responsibility of the visitor / trader only to evaluate his trading strategies and whether he is capable of trading with taking into consideration that losing all the capital invested is a possibility. The visitor should seek an independent professional financial advisor to discuss his or her trading strategies. Moreover, the provided rates for the different instruments are indicative only and cannot be used for trading purposes. Therefore, no responsibility can be imposed on Economies.com and the company operating the portal for any loss of money that may occur to the visitor by using the website.