GBPUSD resume rising – Analysis - 08-12-2016
Economies.com
2016-12-08 05:03AM UTC
The GBPUSD pair bounced upwards clearly after approaching from 1.2550 support level yesterday, as the price got good positive motive provided by stochastic, which supports the chances of testing 1.2720 again.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, noting that breaching 1.2720 level will push the price to test 1.2840 level direct, while the expected rise will remain valid unless breaking 1.2550 level and holding below it.
Expected trading range for today is between 1.2550 support and 1.2800 resistance.
Expected trend for today: Bullish
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