GBP USD loses momentum – Analysis - 05/10/2015

The EMA50 formed good resistance against the last rise of the GBPUSD pair, accompanied by stochastic reach to the overbought levels, which protects the first critical level that located at 1.5245, as long as the price below this level and below 1.5285, so the bearish correctional trend scenario will remain valid and active, and the first target represented by testing 1.5085 level.

We remind you the breaking the targeted level will extend the bearish wave to reach 1.4885, while breaching the above mentioned resistance levels represents the stopping key of the bearish pressure and the return of the main bullish trend. 

Expected trading range for today is between 1.5050 support and 1.5300 resistance.

Expected trend for today: Bearish