The GBPUSD declines strongly - Analysis - 06-07-2022
Economies.com
2022-07-06 04:08AM UTC
The GBPUSD pair provided strong negative trades yesterday to achieve our extended target at 1.1933, showing some bullish bias affected by stochastic positivity to test the resistance line formed around 1.1980, and the price needs to hold below this level to keep the bearish trend dominant in the upcoming sessions, waiting to visit 1.1860 as a next negative target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 1.1980 might push the price to achieve intraday gains and visit 1.2077 areas and might extend to 1.2185 before any new attempt to decline.
The expected trading range for today is between 1.1880 support and 1.2040 resistance.
The expected trend for today: Bearish
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