GBP Analysis 08-03-2022

The British pound against the dollar confirmed breaking the 1.3172 level after closing the daily candle below it, to confirm the extension of the bearish wave on the intraday and short term, regular within the bearish channel that appears on the chart, waiting to visit the 1.3080 level as a next target, noting that breaking it will push the price to 1.3000 barrier in a way. direct.

Stability below 1.3172 is important to continue the expected decline, as breaching it will push the price to visit the descending channel’s resistance around 1.3320 before any new attempt to decline.

The expected trading range for today is between 1.3020 support and 1.3200 . resistance 

The forecast general trend for today: Bearish