GBP USD approaches the first target – Analysis - 02/09/2015
Economies.com
2015-09-02 04:52AM UTC
The GBPUSD pair crawls gradually to the downside approaching from the first waited target at 1.5245, reinforcing the expectations for the bearish correctional trend continuation, reminding you that breaking the mentioned level will extend the bearish wave to target 61.8% Fibonacci correction level at 1.5085.
Therefore, we keep preferring the bearish trend in the upcoming period supported by the EMA50, unless breaching 1.5405 level and holding above it, where this breach will lead the price to provide positive attempts that its targets begin at 1.5605.
Expected trading range for today is between 1.5200 support and 1.5405 resistance.
Expected trend for today: Bearish
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