GBP USD loses the momentum – Analysis - 03/07/2015
Economies.com
2015-07-03 00:38AM UTC
The GBPUSD pair continues to fluctuate between 38.2% and 50% Fibonacci levels, and as long as the price is below 1.5645, we continue to suggest the bearish trend on the intraday basis, noting that breaking 1.5555 level will confirm extending the bearish bias towards 1.5495 then 1.5470.
Stochastic loses its positivity clearly and approach from offering a negative overlapping signal that supports the decline expectations, reminding you that breaching 1.5645 level will motivate the price to stop the current bearish correctional wave to rise again.
Expected trading range for today is between 1.5485 support and 1.5750 resistance.
Expected trend for today: Bearish
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