GBP USD retests – Analysis - 01/12/2015
Economies.com
2015-12-01 05:51AM UTC
The GBPUSD pair couldn’t break 1.5000 level yesterday, to bounce to the upside and retests 1.5085 level now, accompanied by stochastic reach to the overbought levels, besides the EMA50 meet with the mentioned level, which strengthen this resistance.
Therefore, we believe that the chances available for bouncing lower and resuming the bearish correctional trend, which its next targets located at 1.4885, pointing that breaching 1.5085 level will lead the price to recovery attempts that its main targets begin at 1.5320.
Expected trading range for today is between 1.4950 support and 1.5150 resistance.
Expected trend for today: Bearish
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