The GBPUSD tests the support base - Analysis - 18-10-2021
Economies.com
2021-10-18 04:21AM UTC
The GBPUSD pair shows some bearish bias to test the support base formed above 1.3720, affected by stochastic negativity, while it moves within bullish channel that supports the chances of achieving more expected gains in the upcoming period, and the price needs to consolidate above the mentioned support to manage to resume the bullish bias towards 1.3795 as a next positive target.
Therefore, we will continue to suggest the bullish trend on the intraday basis, noting that breaking 1.3720 will press on the price to test 1.3660 before any new attempt to rise.
The expected trading range for today is between 1.3650 support and 1.3820 resistance.
The expected trend for today: Bullish
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