The GBP/SEK pair has demonstrated a sustained bearish trend by consistently closing below the critical resistance level at 14.0200. This decline has marked the inception of negative waves, with the pair touching the 13.7837 mark. Additionally, the exit of the stochastic oscillator from the overbought region further supports the potential for a gathering of negative momentum, increasing the likelihood of additional bearish movements with potential downside targets at 13.7440 and 13.6740 levels.
For today’s trading, the expected range is anticipated to span from the support level at 13.9000 to the lower boundary at 13.7440. Market participants are advised to closely monitor this range, as it may serve as a crucial zone for potential market reversals.
In summary, the GBP/SEK pair remains under bearish pressure, maintaining its efficiency below the resistance at 14.0200. Negative momentum appears to be building, with potential targets at 13.7440 and 13.6740, especially as the stochastic oscillator exits the overbought territory. The current trend leans bearish.