The GBP/USD declines calmly – Analysis – 28/02/2020

gbp_cfdThe GBPUSD pair resumes its negative trading calmly to move away gradually from 1.2920 level, which supports the continuation of the correctional bearish trend scenario, and the way is open to head towards our main waited target at 1.2736.

The EMA50 keeps pressing negatively on the price to support the expectations of achieving more decline, noting that holding below 1.2920 – 1.2930 levels represents initial condition to continue the expected bearish trend.

The expected trading range for today is between 1.2790 support and 1.2930 resistance.

The expected trend for today: Bearish

Origin: Economies

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