GBPUSD begins bearish correction – Analysis - 19-09-2017
Economies.com
2017-09-19 03:42AM UTC
The GBPUSD pair continued its negative trading to break 1.3552 level and settles below it, which opens the way to start bearish correction for the rise measured from 1.2773 to 1.3618, targeting visiting 23.6% Fibonacci correction level at 1.3418 as a first main station.
Therefore, the bearish trend will be suggested for today, noting that breaking the targeted level will extend the bearish wave to reach 1.3295, while the negative pressure will remain valid until the price manages to breach 1.3618 and settles above it.
Expected trading range for today is between 1.3418 support and 1.3600 resistance.
Expected trend for today: Bearish
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