The GBP/USD attempts negatively – Analysis – 21/02/2020

gbp_cfdThe GBPUSD pair provided negative trades yesterday to move away from 1.2920 level, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, noticing that stochastic loses its positive momentum clearly, to support the chances of achieving more decline on the intraday basis.

Our next target is located at 1.2736, which represents 50% Fibonacci correction level, reminding you that the continuation of the bearish wave depends on the price stability below 1.2920.

The expected trading range for today is between 1.2800 support and 1.2970 resistance.

The expected trend for today: Bearish

Origin: Economies

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