GBPUSD needs the positive momentum – Analysis - 20-03-2017
Economies.com
2017-03-20 05:22AM UTC
The GBPUSD pair settles within tight range near 1.2400 barrier, which shows the neediness for enough positive momentum to push the trading to continue the rise, as long as the price above1.2339 level, so the bullish trend scenario will remain active in the upcoming period, waiting for testing 1.2550 level mainly.
The EMA50 supports the suggested wave, being aware that holding above 1.2339 represents an important condition for the continuation of the expected rise, where breaking it will push the price to decline to 1.2145 then visiting the previously recorded bottom at 1.997 on the near term basis.
Expected trading range for today is between 1.2300 support and 1.2500 resistance.
Expected trend for today: Bullish
Forex and Currency News
Forex
Dollar plumbs three-week low ahead of US payrolls report
2024-05-03 11:57AM UTC
Dollar fell in European trade on Friday against a basket of major rivals, extending losses for the ...
Forex
Yen hits three-week high as Japanese authorities intervene
2024-05-03 04:57AM UTC
Yen rose in Asian trade on Friday against major rivals, extending gains for the third straight ...
Forex
Dollar rebounds ahead of US unemployment claims data
2024-05-02 11:10AM UTC
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...
Forex Technical Analysis
Forex
The NZDUSD price forecast update 03-05-2024
2024-05-03 13:54PM UTC
The NZDUSD price breached 0.6000$ level strong and settled above it, reinforcing the expectations ...
Forex
The AUDUSD price forecast update 03-05-2024
2024-05-03 13:54PM UTC
The AUDUSD price traded with strong positivity to succeed achieving our new waited target at ...
Forex
The GBPUSD forecast update 03-05-2024
2024-05-03 13:52PM UTC
The GBPUSD price traded with strong positivity to breach 1.2580$ level strongly but it returns to ...