The GBP/USD finds solid support – Analysis – 23/08/2021

gbp3The GBPUSD pair’s decline stopped at the support base formed above the breached resistance of the bearish channel that appears on the chart, to show some slight bullish bias and head towards potential test to 1.3680 level, noticing that stochastic loses its positive momentum clearly, which supports the chances of turning back to decline again.

Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 1.3680, reminding you that our expected targets begin at 1.3570 and extend to 1.3500.

The expected trading range for today is between 1.3570 support and 1.3700 resistance.

The expected trend for today: Bearish

Origin: Economies

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