The GBP/USD crawls downwards – Analysis – 21/05/2020

gbp_usd_news_1The GBPUSD pair fluctuates in tight track since yesterday, and settles near the EMA50, as long as the price below 1.2304, so our bearish trend expectations will remain valid, targeting 1.2093 level mainly.

On the other hand, you should be aware that breaching 1.2304 and holding above it will stop the suggested decline and leads the price to achieve new gains that reach 1.2515.

The expected trading range for today is between 1.2130 support and 1.2304 resistance.

The expected trend for today: Bearish

Origin: Economies

Leave a Reply