GBPUSD
New forecast
The pound sterling pair against the dollar approached a few points closer to our expected target at 1.2115, and by closely looking at the chart, we find that the recent trading is confined within a falling wedge pattern whose resistance level is at 1.2173, which means that breaching this level will provide a positive incentive that will push the price to recover and head for a test. Levels of 1.2247 and then 1.2310 are main targets but to confirm the bullish trend the price should stable above 1.2190 and then our target will be activate .
The Stochastic indicator provides positive signals that support the chances of surpassing the above-mentioned level and activating the positive pattern. Therefore, an upward bias will be likely for today unless the 1.2108 level is broken and remains below it.
The expect range trading for today it will be between the resistance line 1.2192 and support line 1.2108.
Additionally ,Today News will affect the market .
support line : 1.2123 , 1.2108
resistance line : 1.2173 , 1.2192
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The pound sterling pair against the dollar approached a few points closer to our expected target at 1.2115, and by closely looking at the chart, we find that the recent trading is confined within a falling wedge pattern whose resistance level is at 1.2173, which means that breaching this level will provide a positive incentive that will push the price to recover and head for a test. Levels of 1.2247 and then 1.2310 are main targets but to confirm the bullish trend the price should stable above 1.2190 and then our target will be activate .
The Stochastic indicator provides positive signals that support the chances of surpassing the above-mentioned level and activating the positive pattern. Therefore, an upward bias will be likely for today unless the 1.2108 level is broken and remains below it.
The expect range trading for today it will be between the resistance line 1.2192 and support line 1.2108.
Additionally ,Today News will affect the market .
support line : 1.2123 , 1.2108
resistance line : 1.2173 , 1.2192
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
