The GBP/USD presses on the support – Analysis – 02/03/2021

eu-l13The GBPUSD pair begins today with additional negativity to attempt to break the bullish channel’s support line, which support the continuation of our bearish overview, targeting 1.3775 followed by 1.3685 levels as next negative stations.

On the other hand, we notice that the price completed forming head and shoulder’s pattern that its signs appear on the chart, which form strong motive that supports the chances of achieving the above-mentioned targets.

Therefore, the bearish trend will remain valid and active for the upcoming period conditioned by the price stability below 1.4000.

The expected trading range for today is between 1.3770 support and 1.3960 resistance.

The expected trend for today: Bearish

Origin: Economies

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