GBPUSD awaits the activation of the positive signal – Analysis - 05-07-2016

The GBPUSD pair trading settles above 1.3225 level, while stochastic continues to provide positive signals on the daily time frame, which forms positive motive that we expect to assist to push the price to resume the bullish trend on the short term basis, which targets testing the critical resistance at 1.3834 mainly.

The continuation of the positive expectations depend on the stability above 1.3225 level, where breaking this level will push the price to suffer more of the losses that its next target reach 1.3000 before any new attempt to rise.

Expected trading range for today is between 1.3100 support and 1.3500 resistance.

Expected trend for today: Bullish