GBPUSD exits the channel – Analysis - 01-06-2016
Economies.com
2016-06-01 04:30AM UTC
The GBPUSD pair achieved strong break to the minor bullish channel’s support and settled below it, which stops the recently suggested bullish trend scenario and lead the price to head towards the main bullish channel’s support located now at 1.4265, supported by the negative pressure provided by the EMA50 now.
Therefore, the bearish bias will be suggested in the upcoming sessions, unless the price managed to breach 1.4580 level and hold below it, which will reactivate the positive scenario that targets 1.4860 areas initially.
Expected trading range for today is between 1.4350 support and 1.4580 resistance.
Expected trend for today: Bearish
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