Midday update for GBPUSD 18-01-2017
Economies.com
2017-01-18 10:56AM UTC
The GBPUSD pair traded negatively this morning to push on 1.2339 and moves below it, while the EMA50 still providing the positive support to the price, and trades settle above the previously breached resistance of the minor bearish channel, to keep the chances valid to resume the bullish bias in the upcoming sessions, noting that the continuation of rising need to step above 1.2339 level again to confirm heading towards 1.2550 as a next main target.
Therefore, the rise will remain expected for today unless breaking 1.2280 level and holding below it.
Expected trading range for today is between 1.2250 support and 1.2500 resistance.
Expected trend for today: Bullish
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