GBPUSD gets a positive signal – Analysis - 26-08-2016

The GBPUSD pair showed some calm negative trading yesterday to lean on the minor bullish channel's support that appears on chart, while according to the trading rules inside the channels, the price is on its way to resume the bullish trend on the intraday and short term basis, especially that the EMA50 continues to carry the price from below, and the price needs to breach 1.3240 level to confirm the continuation of rising in the upcoming period.

Stochastic provides positive overlapping signal now, which forms positive motive that we are waiting to assist to breach the above mentioned level, which will lead the price to head towards our next main target at 1.3525, taking into consideration that the continuation of the bullish trend depends on the stability above 1.3115.

Expected trading range for today is between 1.3115 support and 1.3350 resistance.

Expected trend for today: Bullish