Midday update for GBPUSD 20-07-2017
Economies.com
2017-07-20 09:53AM UTC
The GBPUSD pair traded with strong negativity to break 1.3030 level and attempts to hold below it, which urges caution from the upcoming trading, as the EMA50 attempts to protect the price from suffering more losses, forming good support base, noting that breaking 1.2980 will confirm the continuation of the bearish bias to head towards 1.2890 mainly.
Now, we prefer staying neutral in order to monitor the price behavior according to the key levels represented by 1.2980 support and 1.3030 resistance, waiting to confirm breaching one of them to detect the next destination clearly.
Expected trading range for today is between 1.2900 support and 1.3150 resistance.
Expected trend for today: Neutral
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