The GBPUSD tests the resistance - Analysis - 05-10-2021
Economies.com
2021-10-05 04:11AM UTC
The GBPUSD pair continued to rise to test 1.3600 level, noticing that the price keeps its stability below this level, which represents the point that 38.2% Fibonacci correction level meets the bearish channel’s resistance, accompanied by witnessing negative signals through stochastic.
Therefore, we expect to witness negative trades in the upcoming sessions, and the targets begin at 1.3530 and extend to 1.3415, taking into consideration that breaching 1.3600 – 1.3625 levels will lead the price to achieve additional gains that reach 1.3720.
The expected trading range for today is between 1.3500 support and 1.3660 resistance.
The expected trend for today: Bearish
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