The GBP/USD within sideways track – Analysis – 04/03/2022

gbp-l4The GBPUSD pair bounced bearishly after testing 1.3390 resistance in the previous sessions, to reach the key support 1.3310, moving within sideways track between these levels, to continue suggesting the sideways bias until the price manages to surpass one of these levels.

Note that the continuation of the negative pressure and breaking 1.3310 support will push the price to achieve additional decline that its next targets reach 1.3230 followed by 1.3175, while breaching 1.3390 resistance represents the key to rally to recover and visit 1.3460 initially.

The expected trading range for today is between 1.3230 support and 1.3420 resistance.

The expected trend for today: Sideways

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