Midday update for GBPUSD 25-07-2016

The GBPUSD pair fluctuates within sideways track since morning showing some slight positive trades affected by stochastic positive signals, noticing that the indicator heads towards the overbought areas to support the chances of bouncing bearishly and resume the main bearish trend, supported by the EMA50.

As long as the price is below 1.3225, our bearish trend overview will remain valid and active for the upcoming period, waiting to target 1.2910 followed by 1.2825 levels mainly, taking into consideration that breaching 1.3225 level will lead the price to turn the intraday and short term track upwards, to begin the positive targets at 1.3470 and extend to 1.3834.

Expected trading range for today is between 1.2910 support and 1.3225 resistance.

Expected trend for today: Bearish