Forex

The GBPUSD breaks the support – Analysis - 21-03-2019

2019-03-21 05:24:23 GMT (Economies.com)

The GBPUSD pair broke 1.3226 level strongly and settled below it, which puts the price under expected negative pressure in the upcoming period, targeting heading towards 1.3100 followed by 1.2962 levels as next main stations.

 

Moving below the EMA50 supports the expectations to decline, noting that breaching 1.3226 and holding above it again will reactivate the bullish trend scenario that its next main target located at 1.3490.

 

Note that it is important to be aware during today’s trading, due to the potential volatility, waiting the rate decision by the BOE.

 

The expected trading range for today is between 1.3100 support and 1.3300 resistance.

 

The expected trend for today: Bearish

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