GBP USD confirms the break – Analysis - 05/03/2015
Economies.com
2015-03-05 06:03AM UTC
The GBPUSD pair confirmed breaking 1.5350 level by achieving a daily candlestick close below it, and that supports the continuation of the downside track expectations, which was activated yesterday’s evening, waiting for testing 1.5200 then 1.5110 levels in the upcoming period.
The negative effect of the previously completed head and shoulders pattern remains valid and pushes the price to decline, supported by the EMA50, taking into consideration that the continuation of the bearish trend depends on the stability below 1.5350 level.
Expected trading range for today is between: 1.5110 support and 1.5350 resistance.
Expected trend for today: Bearish
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