The GBP/USD approaches the extended target – Analysis – 19/08/2021

gbp_usd_news_1The GBPUSD pair shows new negative trades to approach our extended target at 1.3680, and we expect the continuation of the negative pressure to break this level and achieve more decline on the intraday and short term basis, motivated by stochastic negativity, noting that the next target is located at 1.3570.

Therefore, we will continue to suggest the bearish trend, taking into consideration that failing to achieve the break will lead the price to start recovery attempts that target testing 1.3875 areas before any new attempt to decline.

The expected trading range for today is between 1.3620 support and 1.3780 resistance.

The expected trend for today: Bearish

Origin: Economies

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