Midday update for GBPUSD 16-01-2017
Economies.com
2017-01-16 11:57AM UTC
The GBPUSD pair shows some bullish bias after hitting the recorded bottom level at 1.1997, to approach from testing the critical resistance at 1.2118, as we mentioned this morning, holding below this level will keep our bearish trend expectations valid for today, waiting for breaking 1.1997 level to open the way towards 1.1935 as a next main station.
Therefore, we will keep the bearish trend scenario supported by the EMA50, unless witnessing clear breach and stability above 1.2118.
Expected trading range for today is between 1.1900 support and 1.2118 resistance.
Expected trend for today: Bearish
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