The GBPUSD surpasses the first target - Analysis - 06-02-2023
Economies.com
2023-02-06 04:49AM UTC
The GBPUSD pair succeeded to achieve our first negative target at 1.2090 and surpassed it to confirm the continuation of the bearish bias on the intraday basis, and the way is open to test 23.6% Fibonacci correction level at 1.1940.
Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, noting that breaching 1.2115 will stop the current decline and lead the price to start recovery attempts and return to the bullish track again.
The expected trading range for today is between 1.1950 support and 1.2120 resistance.
The expected trend for today: Bearish
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