The GBPSEK currency pair yielded to the tenacious embrace of a major resistance at 14.0045, bringing an end to its corrective bullish rebound. Subsequently, a notable descent was recorded, propelling the pair significantly downward toward the 13.7495 mark. This downward move substantiates its submission to the prevalent bearish sentiment that had been previously anticipated.
An analysis of the provided chart reveals the stochastic indicator’s attempt to exit the overbought territory. This endeavor augments the likelihood of accumulating additional negative momentum, thus bolstering the prospects for recommencing a negative onslaught. Should the pair continue to descend and penetrate the threshold of 13.6600, the subsequent objective of 13.5250 comes into focus.
The projected trading range for the current day extends from 13.8240 to 13.6600.
Anticipated trend for today remains firmly bearish.