GBP USD loses momentum – Analysis - 26/11/2015

The GBPUSD pair provides slight positive trading after testing 1.5085 level yesterday, noticing that stochastic loses its positive momentum and shows clear overbought signals, which represents negative factor that we wait to push the price to return to the downside, where we still prefer the continuation of the bearish correctional trend, which targets 1.4885 level as a next main station.

Note that the expected bearish trend will remain valid unless breaching 1.5245 then 1.5295 levels, where breaching these levels will lead the price to regain its main bullish track and stops the current bearish correction.

Expected trading range for today is between 1.5000 support and 1.5200 resistance.

Expected trend for today: Bearish