Category: Forex News, News
The GBPJPY take advantage of the support’s stability– Forecast today – 1-5-2025
The GBPUSD declined in its recent intraday trading, with the emergence of the negative signals on the (RSI), which caused the loss of the previous positive momentum, and that led it to break a minor bullish bias line that represents a dynamic support for the price of recent trading.
The pressure increased with surpassing the support of EMA50, which is considered as an extra confirmation for the weakness of the previous bullish trend, and the price move to a clear correctional station that threatens for more downside moves, especially after losing technical support that might limit the negative momentum.
Therefore, our expectations suggest more of the downside movement for the GBPUSD price in its upcoming intraday trading, if the price settles below 1.3345, to target the critical support at 1.3230.
The expected trading range is between 1.3270 support and 1.3365 resistance.
Today’s forecast: Bearish
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Written by : Editorial team of BIPNs
Main team of content of bipns.com. Any type of content should be approved by us.
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