GBPUSD loses momentum – Analysis - 30-03-2017
Economies.com
2017-03-30 04:46AM UTC
The GBPUSD pair fluctuates near the EMA50 keeping its stability below this level, noticing that stochastic loses its positive momentum gradually heading to the overbought levels, which forms negative factor that we wait to motivate the price to resume the bearish trend in the upcoming sessions.
Therefore, we will keep our bearish trend expectations on the intraday and short term basis unless breaching 1.2550 level and holding above it, pointing that the waited targets begin by breaking 1.2339 level to open the way towards targeting the previously recorded bottom at 1.1997.
Expected trading range for today is between 1.2300 support and 1.2500 resistance.
Expected trend for today: Bearish
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