GBPUSD at the middle of the sideways range – Analysis - 16-11-2017

Economies.com
2017-11-16 04:47AM UTC

The GBPUSD pair continues to fluctuate inside the sideways range that appears on the above chart, moving around 50% Fibonacci correction level now at 1.3196, to keep the sideways range suggested until the price succeeds to exit the mentioned range through breaking its support at 1.3096 or breaching 1.3295 resistance.

 

We remind you that breaching the mentioned resistance will lead the price to regain the main bullish trend on the short term basis, to start the positive targets at 1.3419 and extend to 1.3618, while breaking 1.3096 will push the price to test 1.2973 before any new positive attempt.

 

Expected trading range for today is between 1.3070 support and 1.3295 resistance.

 

Expected trend for today: Sideways

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