Midday update for GBPUSD 24-07-2017

The GBPUSD pair keeps providing the positive trading and attempts to breach 1.3030 level that represents the first protecting factor to the recently suggested bearish trend scenario, noticing that stochastic shows clear overbought signals now, to put negative pressure that we expect to push the price to resume the bearish bias again.

Until now, the bearish trend scenario still valid unless the price managed to breach 1.3100 level and hold with a daily close above it, waiting to head towards 1.2890 that represents the main target of the expected bearish bias.

Expected trading range for today is between 1.2890 support and 1.3080 resistance.

Expected trend for today: Bearish