The GBP/USD hits the target – Analysis – 12/08/2019

gbp-l1The GBPUSD pair succeeded to achieve our waited target at 1.2030 and settles around it, falling under more negative pressure that we expect to push the price to achieve more decline in the upcoming period, as the next target is located at 1.1930.

Therefore, the bearish trend will remain suggested in the upcoming sessions supported by the negative pressure formed by the EMA50, noting that holding below 1.2080 represents the first condition to continue the expected decline.

The expected trading range for today is between 1.1930 support and 1.2100 resistance.

The expected trend for today: Bearish

The GBPUSD hits the target – Analysis - 12-08-2019

Origin: Economies

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