GBPUSD rebounds from the target – Analysis - 17-06-2016

The GBPUSD pair approached from our main waited target at 1.4000 yesterday and bounces higher strongly from there, to settle near 1.4200 level now, which provide signals for the price recovery on the intraday and short- term basis, targeting 1.4335 level initially.

Therefore, we prefer witnessing more of the bullish bias in the upcoming period, and monitoring the price behavior when reaching the targeted level necessary, where breaching it represents the confirmation key for extending the bullish wave to target 1.4620 levels then heading to 1.5000 on the near term basis.

Expected trading range for today is between 1.4100 support and 1.4335 resistance.

Expected trend for today: Bullish