GBPUSD breaches the resistance – Analysis - 27-07-2017
The GBPUSD pair rallied upwards strongly yesterday to breach 1.3100 level and close the daily candlestick above it, which stops the negative pressure that dominated the recent trading and push the price to return to the short term bullish trend, organized inside the bullish channel that appears on chart, paving the way to head towards the previously recorded top at 1.3445 as a next main station.
Therefore, the bullish trend will be suggested in the upcoming sessions supported by the EMA50, taking into consideration that breaking 1.3100 followed by 1.3020 levels will stop the suggested rise and push the price to test 1.2890 before any new attempt to rise.
Expected trading range for today is between 1.3020 support and 1.3240 resistance.
Expected trend for today: Bullish
Forex and Currency News
Forex
Dollar parks at two-week highs ahead of Fed decisions
The dollar rose in European trade on Wednesday against a basket of major rivals, extending gains ...
Forex
Kiwi plumbs two-week trough after disappointing labor data
The New Zealand dollar fell in Asian trade on Wednesday against a basket of major rivals, ...
Forex
Dollar climbs ahead of crucial US data
The dollar rose in European trade on Tuesday against a basket of major rivals away from two-week ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 01-05-2024
GBPUSD Price Analysis: Expected Scenarios The GBPUSD price attempted to break 1.2480$ level but it ...
Forex
The EURUSD price forecast update - 01-05-2024
EURUSD Price Analysis: Expected Scenarios The EURUSD price shows some slight bullish bias now, ...
Forex
The GBPCHF provides positive signal – Forecast today – 1-5-2024
Scenarios and Trading Range Expected Scenarios GBPCHF price provided positive signals by ...