Midday update for the GBPUSD 05-03-2021
Economies.com
2021-03-05 11:11AM UTC
The GBPUSD pair resumed its negative trading strongly to approach our first waited target at 1.3775, and we believe that the way is open to continue the decline to head towards our extended target that reaches 1.3665.
Therefore, we will continue to suggest the bearish trend for the upcoming sessions affected by the completion of the head and shoulders’ pattern that its signs appear on the chart, noting that the continuation of the bearish wave requires holding below 1.3925 as a first condition.
The expected trading range for today is between 1.3750 support and 1.3900 resistance.
The expected trend for today: Bearish
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