The GBP/USD heads towards the negative target – Analysis – 23/10/2020

news_22_feb_2_gbp_usdThe GBPUSD pair shows more bearish bias to move below 1.3100 barrier, reinforcing the expectations of continuing the intraday bearish trend, reminding you that our main waited target is located at 1.3000.

We need to monitor the price behavior when reaching the targeted level, as the consolidation against the current decline will push the price to resume the short term bullish trend, while breaking it will press on the price to achieve more decline and visit 1.2920 areas before any new attempt to rise.

The expected trading range for today is between 1.2970 support and 1.3150 resistance.

The expected trend for today: Bearish temporarily

Origin: Economies

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