GBPUSD pressing the support line – Analysis - 16-05-2018
Economies.com
2018-05-16 03:11AM UTC
The GBPUSD pair attempted to break 1.3490 level yesterday but it kept the daily close above it, starting today with new bearish bias that hints the attempt to break the mentioned support, supported by the negative signal provided by stochastic, which makes us prefer staying aside until the price confirms its next destination clearly.
Note that closing the daily candlestick below the mentioned level will push the price to target the next correctional level at 1.3226, while holding above it will lead the price to achieve gains that start at 1.3710 and extend to 1.3817.
Expected trading range for today is between 1.3380 support and 1.3590 resistance.
Expected trend for today: Neutral
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