The GBPUSD retests the neckline - Analysis - 08-08-2022
Economies.com
2022-08-08 03:49AM UTC
The GBPUSD pair continued to decline to retest the breached neckline of the inverted head and shoulders’ pattern that appears on the chart, and attempts to consolidate above this key support at 1.2045, to keep the positive effect of the mentioned positive pattern active, which encourages us to suggest the bullish bias for the upcoming period, waiting to head towards 1.2210 as a first main station.
Therefore, the bullish trend will be expected for today, noting that breaking 1.2045 will stop the positive scenario and press on the price to return to the main bearish track again.
The expected trading range for today is between 1.2000 support and 1.2170 resistance.
The expected trend for today: Bullish
Forex and Currency 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 ...
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
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
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 ...
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 ...
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 ...