The GBPUSD surpasses the first target - Analysis - 09-05-2022
2022-05-09 04:09AM UTC

The GBPUSD pair managed to surpass 1.2300 level to confirm extending the bearish wave on the intraday and short term basis, organized inside the bearish channel that appears on the chart, motivated by the negative signal provided by stochastic, waiting to head towards our next target that reaches 1.2200.


Therefore, we are waiting for more decline in the upcoming sessions, noting that breaching 1.2410 might push the price to achieve some intraday gains and test 1.2490 – 1.2540 areas before any new attempt to decline.



The expected trading range for today is between 1.2200 support and 1.2350 resistance.


The expected trend for today: Bearish

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