The GBPUSD loses momentum – Analysis - 08-04-2020
Economies.com
2020-04-08 04:59AM UTC
The GBPUSD pair settled above 1.2304 level, but it faces good resistance formed by the bearish trend line that appears on the chart, to keep the chances valid to resume the expected bearish trend for the upcoming period, which targets 1.2093 level mainly.
Stochastic provides negative signals that support the expectations to decline, and the price needs to break 1.2304 followed by 1.2270 levels to ease the mission of achieving the waited targets, noting that it is important to hold below 1.2355 to continue the suggested bearish trend.
The expected trading range for today is between 1.2200 support and 1.2400 resistance.
The expected trend for today: Bearish
Forex and Currency News
Forex
Loonie edges up after monthly employment data
2024-05-10 15:49PM UTC
The Canadian dollar rose against most major rivals following monthly jobs data which revealed solid ...
Forex
Sterling moves in a positive zone after hot growth data
2024-05-10 08:26AM UTC
Sterling rose in European trade on Friday against a basket of major rivals, extending gains for the ...
Forex
Yen heads for weekly loss as intervention momentum from Japanese authorities fade
2024-05-10 04:51AM UTC
Yen fell in Asian trade on Friday against a basket of major rivals, resuming losses against the ...
Forex Technical Analysis
Forex
The EURUSD price forecast update - 10-05-2024
2024-05-10 10:26AM UTC
Expected Trading Scenarios The EURUSD price fluctuates within tight range since morning, ...
Forex
The NZDCAD tests the resistance – Forecast today – 10-5-2024
2024-05-10 07:11AM UTC
NZDCAD Price Analysis 1. Expected Scenario NZDCAD price faces strong positive pressures ...
Forex
The EURJPY jumps above the barrier – Forecast today – 10-5-2024
2024-05-10 07:08AM UTC
EURJPY Pair Analysis 1. Expected Scenario EURJPY pair experiences temporary correctional ...