GBPUSD gets the positive momentum – Analysis - 15-02-2017

The GBPUSD pair continues to fluctuate near the intraday bullish trend line since yesterday, noticing that stochastic gained positive momentum on the four hours time frame, to form positive motive that we wait to push the price to rise again, where the expected bullish trend remains valid as long as the price stable above the critical support base that declines now to 1.2390.

Therefore, we wait for positive trading in the upcoming sessions, waiting for breaching 1.2550 level to ease the mission for heading to our next target at 1.2720, reminding you that breaking 1.2390 will push the price to return to the long term bearish channel then regain the bearish track.

Expected trading range for today is between 1.2390 support and 1.2600 resistance.

Expected trend for today: Bullish