GBP USD attempts to build support base – Analysis - 28/07/2015
Economies.com
2015-07-28 05:03AM UTC
The GBPUSD pair breached 1.5555 level and settled above it, to build intraday support base that reinforces our expectations to rise in the upcoming period, waiting to head towards 1.5645 level as a next main station.
The EMA50 offers positive support now, while stochastic forms negative factor that blocks the rising mission, but, in general, we will continue to suggest the bullish trend in the upcoming sessions unless breaking 1.5470 level and holding below it, noting that breaching 1.5645 level will extend the bullish wave to reach 1.5750 followed by 1.5925 levels.
Expected trading range for today is between 1.5470 support and 1.5700 resistance.
Expected trend for today: Bullish
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