GBPUSD declines calmly – Analysis - 21-10-2016
Economies.com
2016-10-21 03:24AM UTC
The GBPUSD pair continues to crawl downwards calmly to move away from the key resistance line that declines now to 1.2340, and the price falls under continuous negative pressure by the EMA50, to support the continuation of the main bearish trend scenario that targets 1.2000 areas as a next main station.
Therefore, our bearish trend expectations will remain valid without any change unless 1.2340 level and holding above it, as breaching this level represents positive factor that will open the way to achieve intraday gains that start at 1.2550 mainly.
Expected trading range for today is between 1.2100 support and 1.2340 resistance.
Expected trend for today: Bearish
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