GBPUSD suffers sharp losses – Analysis - 18-07-2018
Economies.com
2018-07-18 04:05AM UTC
The GBPUSD pair declined sharply yesterday to break 1.3226 level and reach below 1.3100, which activates the bearish trend scenario again, paving the way to achieve more decline in the upcoming period, as the main negative target is located at 1.2962.
Therefore, we are waiting for more decline today supported by moving below the EMA50, taking into consideration that breaching 1.3226 will stop the expected bearish bias and push the price to start recovery attempts on the intraday and short term basis.
Expected trading range for today is between 1.3000 support and 1.3200 resistance.
Expected trend for today: Bearish
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