The GBPUSD achieves strong gains - Analysis - 30-09-2022

The GBPUSD pair traded with strong positivity yesterday after breaching 1.0845 level, to reach 61.8% Fibonacci correction level that formed solid resistance at 1.1186, to show some bearish bias by today’s open, support by stochastic positivity.

The price faces contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend, noting that breaching 1.1186 will lead the price to achieve more gains and head towards 1.1365 as a next positive station, while breaking 1.1015 represents the key to resume the main bearish trend that its targets begin at 1.0845 followed by 1.0635.

The expected trading range for today is between 1.0990 support and 1.1200 resistance.

The expected trend for today: Neutral