The GBPUSD shows mixed trades - Analysis - 05-02-2021
Economies.com
2021-02-05 04:55AM UTC
The GBPUSD pair bounced upwards strongly after attempting to break 1.3600 barrier, to retest the previously broken support of the bullish channel that turns into resistance that rises now to 1.3690, as it keeps its stability below it, accompanied by stochastic reach to the overbought areas now.
Therefore, these factors encourage us to suggest resuming the bearish trend in the upcoming sessions, which targets 1.3515 – 1.3495 levels, noting that holding below 1.3690 is important to achieve these targets.
The expected trading range for today is between 1.3570 support and 1.3740 resistance.
The expected trend for today: Bearish
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