Advertisements

GBPUSD Faces Short-Term Downward Pressure, but Bullish Outlook Prevails

by Daisy

The GBPUSD pair experienced a downturn recently, slipping below the crucial 1.2800$ mark in trading yesterday. However, early indications today suggest a bullish bias, signaling potential for recovery and a return to the upward trajectory, with a target set at 1.2890$.

Market analysis highlights the pivotal role of the EMA50, providing underlying support from below. Failure to sustain trades above 1.2800$ could lead to further declines, possibly testing the 1.2700$ level before any renewed upward momentum.

Advertisements

Today’s anticipated trading range is expected between the support level of 1.2730$ and resistance at 1.2880$.

Advertisements

Forecast Trend: Bullish

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News