The GBPUSD tests the support base - Analysis - 18-10-2021

Economies.com
2021-10-18 04:21AM UTC

The GBPUSD pair shows some bearish bias to test the support base formed above 1.3720, affected by stochastic negativity, while it moves within bullish channel that supports the chances of achieving more expected gains in the upcoming period, and the price needs to consolidate above the mentioned support to manage to resume the bullish bias towards 1.3795 as a next positive target.

 

Therefore, we will continue to suggest the bullish trend on the intraday basis, noting that breaking 1.3720 will press on the price to test 1.3660 before any new attempt to rise.

 

The expected trading range for today is between 1.3650 support and 1.3820 resistance.

 

The expected trend for today: Bullish

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...
GBP USD Analysis

Forex

The GBPUSD forecast update 28-03-2024
2024-03-28 10:19AM UTC
GBPUSD Trading Analysis The GBPUSD price shows calm bearish bias to gradually approach our first ...