The GBP/USD rises slowly – Analysis – 09/06/2021

gbp-l3The GBPUSD pair trades with clam positivity to move away from the bullish channel’s support line, to continue fluctuating inside the sideways range that its lines represented by 1.4095 support and 1.4238 resistance, which keeps the sideways move scenario valid until now, and the chances valid to visit this range’s resistance in the upcoming sessions.

Note that continuing the rise and breaching the mentioned resistance will lead the price to achieve additional gains and head towards 1.4375 level as a next station, while breaking the support will press on the price to achieve additional bearish correction that targets 1.4030 followed by 1.3960 levels mainly.

The expected trading range for today is between 1.4070 support and 1.4240 resistance.

The expected trend for today: Sideways

Origin: Economies

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