GBPUSD awaits to activate the positive pattern – Analysis - 19-07-2016

The GBPUSD pair continues to fluctuate around the EMA50 that provides the positive support to the price, while we still waiting to complete forming the inverted head and shoulders' pattern that its signs appear on chart, reminding you that this pattern's neckline is located at 1.3470, which means that breaching this level will provide strong positive motive that supports achieving good gains on the short term basis.

Therefore, our bullish overview will remain valid for today conditioned by the price stability above 1.3090, reminding you that our main targets begin at 1.3834 and extend to 1.4165.

Expected trading range for today is between 1.3090 support and 1.3500 resistance.

Expected trend for today: Bullish