GBPUSD approaches the target – Analysis - 15-01-2018

The GBPUSD pair continued to achieve strong rises to approach our waited target at 1.3800, noticing that the price moves inside bullish channels that appear on the chart, which supports the chances of continuing the bullish trend on the short term and medium term basis, noting that surpassing the mentioned level will lead the price to test the psychological barrier at 1.4000 as a next station.

Therefore, we will keep our bullish overview in the upcoming sessions supported by the EMA50, unless we witnessed clear break and hold below 1.3618 level, as breaking this level might push the price to test 1.3485 areas initially and might extend to 1.3340 before any new attempt to rise.

Expected trading range for today is between 1.3650 support and 1.3850 resistance.

Expected trend for today: Bullish