GBP USD loses momentum – Analysis - 03/09/2015

The GBPUSD pair shows expected sideways trading after approaching from 1.5245 level, noticing that stochastic loses its positive momentum clearly to move near the overbought levels, approaching from providing negative overlapping signal on the four hours time frame, which represents negative motive that we wait to push the price to resume the bearish trend in the upcoming period, to extend the negative targets towards 1.5085.

Therefore, the bearish trend will remain valid and active on the intraday and short- term basis, supported by the EMA50, unless breaching 1.5405 level and holding with a daily close above it.

Expected trading range for today is between 1.5200 support and 1.5405 resistance.

Expected trend for today: Bearish