GBPUSD completes a negative pattern – Analysis - 12-07-2018
Economies.com
2018-07-12 03:51AM UTC
The GBPUSD pair showed clear negativity yesterday to break 1.3229 level and settles below it, as the price completed forming bearish flag pattern that its signs appear on the chart, which pushes the price for more potential decline in the upcoming sessions.
Moving below the EMA50 is considered as a negative factor that supports the continuation of the bearish bias, making the bearish trend dominant on the intraday and short term basis unless the price managed to breach 1.3229 followed by 1.3295 levels and holding above them, noting that our main waited target is located at 1.2962.
Expected trading range for today is between 1.3100 support and 1.3295 resistance.
Expected trend for today: Bearish
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