The GBP/USD reaches the target – Analysis – 26/10/2020

forex_news_gbp_7The GBPUSD pair resumed its negative trading clearly to reach the thresholds of the waited target at 1.3000, finding good support formed by the EMA50, and we expect the continuation of the decline until touching the intraday bullish channel’s support line at 1.2945 as a next negative target.

Therefore, the bearish trend will remain expected for the upcoming period, noting that breaching 1.3090 will stop the negative scenario and leads the price to resume the bullish track within the mentioned channel.

The expected trading range for today is between 1.2945 support and 1.3100 resistance.

The expected trend for today: Bearish temporarily

Origin: Economies

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