The GBPUSD succeeds to break the support - Analysis - 05-03-2021
Economies.com
2021-03-05 05:17AM UTC
The GBPUSD pair broke the bullish channel’s support line strongly and closed the daily candlestick below it, which reinforce the continuation of the bearish trend scenario efficiently in the upcoming period, on its way to achieve our expected negative targets that start at 1.3775 and extend to 1.3665.
Therefore, we are waiting for more decline on the intraday basis supported by moving below the EMA50, taking into consideration that breaching 1.3925 followed by 1.4000 levels will stop the expected decline and push the price to regain the main bullish trend again.
The expected trading range for today is between 1.3790 support and 1.3965 resistance.
The expected trend for today: Bearish
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