GBP/USD currency pair analysis 07.02.2022

The GBP/USD pair traded with noticeable negativity in the past sessions and made an attempt to break the 1.3525 level, and starts today with new negative attempts, while the EMA50 tries to protect the price from incurring more losses, in conjunction with the emergence of positive signs through the stochastic indicator.

Therefore, the conflict between the technical factors makes us prefer to stay neutral until the price confirms its position in relation to the mentioned level, as breaking it will pressure the price to achieve an additional decrease targeting the 1.3460 level directly, while consolidation above it will lead the price to resume the bullish slope whose first target is at 1.3610.

The expected trading range for today is between 1.3460 support and 1.3610 resistance.

The forecast trend for today: Neutral.