GBPUSD testing resistance

Dec 8, 2023

Hello everyone,

GBPUSD 6H NEW FORECAST

The British pound against the dollar pair is fluctuating around the 1.2590 level and is trying to consolidate below it, noting that the 50 moving average forms negative pressure to protect the expected bearish trend scenario in the immediate term, while the Stochastic indicator begins to cross negatively now.



Therefore, these factors encourage us to favor the bearish bias during the coming sessions, influenced by the previously completed double top pattern, remembering that our next target is at 1.2513 while breaching 1.2590 will stop the negative scenario and push the price to recover again.

The general trend expected for today: Bearish