Forex

The GBPUSD surpasses the moving average - Analysis - 23-07-2021

2021-07-23 03:48:08 GMT (Economies.com)

The GBPUSD pair breached the EMA50 and settled above it, to reinforce the expectations of continuing the bullish trend, waiting to test the bearish channel’s resistance at 1.3840.

 

It is important to monitor the price behavior when reaching the targeted level, as breaching it will lead the price to achieve additional gains that reach 1.4000, while consolidating below it will press on the price to resume the decline inside the bearish channel that appears on the chart and test 1.3680 initially.

 

The expected trading range for today is between 1.3700 support and 1.3850 resistance.

 

The expected trend for today: Bullish

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