GBPUSD touches the main target – Analysis - 16-01-2017
The GBPUSD pair opened today's trading with strong bearish gap that put the price at our main waited target at 1.1997, hinting that the pair is on its way to suffer more losses accompanied by the Britain's prime minister announcements that hinted the beginning of planning to exit the European Union, which makes us wait for more decline in the upcoming sessions and more historical lows.
Therefore, the negative targets will extend to reach 1.1935 as a next main station, and breaking this level will push the price towards 1.1790, while the negative pressure will remain valid for today unless the price managed to breach 1.2118 and hold above it.
Expected trading range for today is between 1.1900 support and 1.2118 resistance.
Expected trend for today: Bearish
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