GBPUSD begins with a bearish gap – Analysis - 03-10-2016

The GBPUSD pair touched the recently recorded low at 1.2913 after it opened today's trading with tight bearish gap, showing bullish rebound signals now, which supports the chances of achieving some gains in the upcoming sessions, supported by stochastic move near the oversold areas.

Therefore, we suggest witnessing bullish bias for today, and the main target is represented by testing 1.3010 level, being aware that it is important to monitor the price behavior when reaching this level, as breaching it represents the key to extend the pair's gains to reach 1.3116 as a next main station, while the suggested rise will remain valid and active unless breaking 1.2913 followed by 1.2864 levels and holding below them.

Expected trading range for today is between 1.2864 support and 1.3056 resistance.

Expected trend for today: Bullish