GBPUSD gets the positive momentum – Analysis - 25-04-2017

The GBPUSD pair finds difficulty to surpass the minor resistance that appears on chart, noticing that stochastic reaches the oversold areas again, to provide positive motive that we are waiting to assist to push the price to rise again and visit 1.2890 level initially, noting that this level represents 61.8% Fibonacci correction level for the decline measured from 1.3443 to 1.1997, which means that breaching it will extend the bullish wave to reach 1.3100 direct.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions, supported by the EMA50 that keeps carrying the price from below, noting that breaking 1.2720 will put the price under negative pressure that targets testing 1.2550 direct before any new attempt to rise.

Expected trading range for today is between 1.2700 support and 1.2900 resistance.

Expected trend for today: Bullish