GBPUSD attempts to breach – Analysis - 18-10-2018
The GBPUSD pair continued to decline yesterday to start testing the bullish channel’s support line that appears on the chart, moving below the EMA50 to fall under negative pressure now, noticing that the price draws double top pattern after failing to breach 1.3226 level in the second attempt.
Therefore, these factors make us suggest witnessing more decline in the upcoming sessions, and breaking 1.3083 will activate the negative effect of the mentioned pattern and push the price to head towards 1.2962 direct, taking into consideration that breaching 1.3140 will stop the negative scenario and push the price to test 1.3226 level again.
Expected trading range for today is between 1.3000 support and 1.3170 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Euro approaches week high amid positive outlook
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Dollar gives up five-month high on profit-taking
The dollar lost ground in European trade on Wednesday against a basket of major rivals away from ...
Forex
Sterling starts recovering after hot UK inflation data
Sterling rose in European trade on Wednesday for the first time in four days against the dollar, ...
Forex Technical Analysis
Forex
The USDCHF price under the negative pressure – Forecast today - 19-04-2024
USDCHF Price Analysis Expected Scenario The USDCHF price begins today with strong decline ...
Forex
The NZDUSD price declines again – Forecast today - 19-04-2024
NZDUSD Price Analysis Expected Scenario The NZDUSD price couldn’t manage to hold ...
Forex
The AUDUSD price breaks the support – Forecast today - 19-04-2024
AUDUSD Price Analysis Expected Scenario The AUDUSD price ended yesterday negatively, and ...