The GBPUSD tests the support again - Analysis - 04-08-2022
Economies.com
2022-08-04 04:03AM UTC
The GBPUSD pair faced new negative pressure to test the bullish channel’s support line, and the EMA50 meets this support to protect the continuation of the bullish wave, while stochastic continues to provide the positive signals.
Therefore, we believe that the chances valid to resume the expected bullish trend for the upcoming period, which targets 1.2360 areas as a next main station, noting that the continuation of the bullish wave requires holding above 1.2130 and 1.2077 levels.
The expected trading range for today is between 1.2090 support and 1.2260 resistance.
The expected trend for today: Bullish
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