The GBPUSD loses momentum – Analysis - 08-04-2020
Economies.com
2020-04-08 04:59AM UTC
The GBPUSD pair settled above 1.2304 level, but it faces good resistance formed by the bearish trend line that appears on the chart, to keep the chances valid to resume the expected bearish trend for the upcoming period, which targets 1.2093 level mainly.
Stochastic provides negative signals that support the expectations to decline, and the price needs to break 1.2304 followed by 1.2270 levels to ease the mission of achieving the waited targets, noting that it is important to hold below 1.2355 to continue the suggested bearish trend.
The expected trading range for today is between 1.2200 support and 1.2400 resistance.
The expected trend for today: Bearish
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