Forex

The GBPUSD tests the resistance - Analysis - 18-09-2020

2020-09-18 03:29:43 GMT (Economies.com)

The GBPUSD pair traded with clear positivity yesterday to test the key resistance 1.3000, starting to rebound bearishly from there, to approach the intraday bullish channel’s support line that appears on the chart, which we believe that it forms bearish flag pattern that supports our expectations of continuing the bearish trend on the intraday and short term basis.

 

Therefore, our bearish overview will remain valid for the upcoming period, supported by the EMA50 that presses negatively on the price, noting that our main expected target reaches 1.2705, while achieving it requires holding below 1.3000.

 

The expected trading range for today is between 1.2840 support and 1.3020 resistance.

 

The expected trend for today: Bearish

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