GBPUSD awaits the breach – Analysis - 17-01-2018
Economies.com
2018-01-17 05:31AM UTC
The GBPUSD pair approached the bullish channel's resistance that appears on the chart and rebounds bearishly from there again, while stochastic continues to provide the positive signals on the four hours' time frame, which keeps the chances valid to continue the main bullish trend, waiting to breach 1.3850 level to confirm opening the way to visit the psychological barrier at 1.4000.
We should note that breaking 1.3740 will put the price under negative pressure that targets testing 1.3618 and might extend to 1.3510 areas before any new attempt to resume the bullish trend.
Expected trading range for today is between 1.3700 support and 1.3900 resistance.
Expected trend for today: Bullish
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