GBP USD resumes the decline – Analysis - 06/10/2015
Economies.com
2015-10-06 04:52AM UTC
The GBPUSD pair trades with a bearish bias after testing 1.5245 level yesterday, where the price kept its stability below this level, which keeps the bearish trend scenario valid in the upcoming period, which its main targets begin by testing 1.5085 level that represents 61.8% Fibonacci correction level for the upside track that appears in the image.
We remind you that breaking the targeted level will extend the bearish wave to the next correctional level that located at 1.4885, while the bearish trend will remain valid unless breaching 1.5245 and 1.5290 levels and holding above them.
Expected trading range for today is between 1.5050 support and 1.5245 resistance.
Expected trend for today: Bearish
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