GBP USD breaches the resistance – Analysis - 11/02/2016
Economies.com
2016-02-11 05:53AM UTC
The GBPUSD pair closed yesterday’s trading above 1.4515 level, opening the way towards reactivating the bullish correctional scenario, where the EMA50 managed to form good support base that prevented the price from achieving more of the downside moves, while stochastic provides positive overlapping signal on the four hours time frame.
Therefore, these factors makes us prefer witnessing bullish bias in the upcoming sessions, and the main target at 1.4785, pointing that breaking 1.4515 then 1.4445 level will put the price under the negative pressure again.
Expected trading range for today is between 1.4445 support and 1.4650 resistance.
Expected trend for today: Bullish
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