years on the market

Currency pair analysis: GBP/USD

The GBP/USD pair traded lower after the repeated test of 1.3355, which keeps our bearish trend expectations valid for the upcoming period. They are also supported by the negative pressure formed by the EMA50: it means that trading within the descending channel shown in the image is likely, with the price waiting to visit 1.3160 as the next target.

On the other hand, breaching 1.3355 might push the price to test 1.3340 initially before any new attempt to decline.

The expected trading range for today: between support 1.3240 and resistance 1.3390

The forecast general trend for today: bearish

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