Midday update for GBPUSD 27-02-2017
Economies.com
2017-02-27 12:15PM UTC
The GBPUSD pair shows bearish bias to move near 1.2400 level, as long as the price below 1.2550 level, so the bearish trend scenario will remain active in the upcoming period, reminding you that our main waited target located at 1.2339, which breaking it represents negative factor that will push the price to suffer more of the losses on the short and medium term basis.
Note that breaching 1.2550 will reactivate the bullish correctional scenario that its main targets begin at 1.2720.
Expected trading range for today is between 1.2300 support and 1.2500 resistance.
Expected trend for today: Bearish
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