The GBP/USD awaits more decline – Analysis – 13/05/2022

gbp-l4The GBPUSD pair shows some bullish bias affected by stochastic positivity, noticing that the indicator loses its positive momentum to support the chances of resuming the bearish wave within the bearish channel that appears on the chart, noting that our next target extends to 1.2080.

The EMA50 continues to support the suggested bearish wave, which will remain valid unless the price rallied to breach 1.2350 and hold above it.

The expected trading range for today is between 1.2130 support and 1.2290 resistance.

Origin: Economies

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