GBP USD resumes the decline – Analysis - 18/12/2014
Economies.com
2014-12-18 06:16AM UTC
The GBPUSD pair bounced lower strongly after testing 1.5720 level in the last days, to begin to test the mentioned critical support at 1.5540, which breaking it represents an important negative key that supports the continuation of the overall bearish trend, waiting for visiting 1.5370 level mainly.
Therefore, the bearish trend will remain preferred in the upcoming sessions, supported by the negative signal that comes from stochastic and the EMA50, reminding you that holding below 1.5720 is important for keeping the chances of achieving the suggested targets.
Expected trading range for today is between: 1.5440 support and 1.5700 resistance.
Expected trend for today: Bearish
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