The GBPUSD retests the neckline - Analysis - 08-08-2022

2022-08-08 03:49:43 GMT (Economies.com)
 

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.

 

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The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
0.9802
0.0147
1.5193%
1.1165
0.0345
3.1856%
19.049
0.190
1.008%
80.050
0.756
0.953%
87.96
-0.53
0.60%
1664.495
19.135
1.163%
 
 
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