The GBP/USD breaks the support – Analysis – 26/02/2021

news_22_feb_2_gbp_usdThe GBPUSD pair broke 1.4070 level strongly and declined to surpass the EMA50, to fall under expected additional negative pressure in the upcoming period, as the next target is located at 1.3900, noting that breaking this level will extend the pair’s losses to reach 1.3775.

Therefore, we expect witnessing more decline today supported by moving below the EMA50, noting that the expected decline will remain valid unless the price rallied to breach 1.4100 and hold above it.

The expected trading range for today is between 1.3880 support and 1.4060 resistance.

The expected trend for today: Bearish

Origin: Economies

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