GBPUSD resumes rising – Analysis - 22-05-2017

The GBPUSD pair provided clear positive trading after leaning on 1.2890 level, and started to tested 1.3000 barrier and settles near it, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, reminding you that our next main target is located at 1.3100.

The EMA50 carries the price from below, and supports the chances of continuing the rise to breach the targeted level followed by extending the bullish wave to reach 1.3443 as a next main station, therefore, our bullish overview will remain valid and active in the upcoming period unless breaking 1.2890 level and holding below it.

Expected trading range for today is between 1.2900 support and 1.3100 resistance.

Expected trend for today: Bullish