GBPUSD pair traded negatively yesterday and hit 1.3900 level, and failed to
break it, but it returned to key resistance at 1.4005, accompanied by
stochastic reach to the overbought areas.
all these are valid indication for continuation of correctional bearish trend
with next main target at 1.3800, noting
that breaching 1.4105 will stop the current negative pressure and lead the
price to attempt to return to the main bullish trend again.
trading range for today is between 1.3800 support and 1.4000 resistance.
trend for today: Bearish
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day for GBP/USD. We have strong Sterling on BoE and the pair skyrocketed to
reach daily high at 1.4013. Th afternoon will bring US macto data, so let’s see
how the greenback will behave.