The GBPUSD presses on the support – Analysis - 07-11-2019
Economies.com
2019-11-07 05:48AM UTC
The GBPUSD pair tests 1.2840 level now, and by taking a deeper look at the chart, we find that the price draws double top pattern that makes us suggest witnessing negative trades today, especially after confirming breaking 1.2800 level.
Therefore, we expect the domination of the bearish trend today, and the main expected target reaches 1.2670, taking into consideration that failing to break 1.2840 and 1.2800 levels will stop the suggested negative scenario and push the price to achieve gains again.
The expected trading range for today is between 1.2730 support and 1.2930 resistance.
The expected trend for today: Bearish
Forex and Currency News
Forex
Dollar plumbs three-week low ahead of US payrolls report
2024-05-03 11:57AM UTC
Dollar fell in European trade on Friday against a basket of major rivals, extending losses for the ...
Forex
Yen hits three-week high as Japanese authorities intervene
2024-05-03 04:57AM UTC
Yen rose in Asian trade on Friday against major rivals, extending gains for the third straight ...
Forex
Dollar rebounds ahead of US unemployment claims data
2024-05-02 11:10AM UTC
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...
Forex Technical Analysis
Forex
The NZDUSD price forecast update 03-05-2024
2024-05-03 13:54PM UTC
The NZDUSD price breached 0.6000$ level strong and settled above it, reinforcing the expectations ...
Forex
The AUDUSD price forecast update 03-05-2024
2024-05-03 13:54PM UTC
The AUDUSD price traded with strong positivity to succeed achieving our new waited target at ...
Forex
The GBPUSD forecast update 03-05-2024
2024-05-03 13:52PM UTC
The GBPUSD price traded with strong positivity to breach 1.2580$ level strongly but it returns to ...