The GBP/USD attempts to recover – Analysis – 20/11/2020

gbp-l4The EMA50 formed good support against the GBPUSD pair, to push trades to rise and attempt to regain the bullish trend, but we notice that stochastic loses its positive momentum clearly, which forms negative factor that might press on the price to decline again.

Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 1.3320 and hold above it, reminding you that our first negative target is located at 1.3105.

The expected trading range for today is between 1.3160 support and 1.3340 resistance.

The expected trend for today: Bearish

Origin: Economies

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