The British Pound collapses against the US dollar by today’s open, to lose near 8% of its value until now, suffering historical losses and heads towards achieving potential decline in the upcoming period, affected by heading towards the US dollar as a safe haven among the current economic volatility, and we expect to resume the bearish bias to target 1.0280 followed by 1.0200 areas as next main stations.
Therefore, the negative pressure will remain valid in the upcoming sessions, noting that breaching 1.0635 will stop the current negative pressure and push the price to start bullish correction on the intraday basis.
The expected trading range for today is between 1.0400 support and 1.0635 resistance.
The expected trend for today: Bearish
Origin: Economies
