The GBP/USD breaks the support – Analysis – 07/04/2021

gbp_cfdThe GBPUSD pair ended yesterday below the main bullish channel’s support line, to retest the breached resistance of the minor bearish channel that appears on the chart, noticing that stochastic provides positive signals that might assist to push the price to recover again.

Now, we need to monitor 1.3790 support and 1.3880 resistance to detect the next destination clearly, noting that breaching the mentioned resistance will reactivate the main positive scenario that its next target located at 1.4000, while breaking the support represents negative factor that will press on the price to achieve negative targets that start at 1.3705 and extend to 1.3580.

The expected trading range for today is between 1.3740 support and 1.3920 resistance.

The expected trend for today: Depends on the above mentioned levels

Origin: Economies

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