GBP USD settles below the support – Analysis - 03/11/2014
Economies.com
2014-11-03 06:10AM UTC
The GBPUSD pair closed last week trading below 1.6000 level, which opens the way towards the continuation of the bearish bias in the upcoming period, waiting for targeting 1.5720 levels mainly.
Therefore, the bearish trend will be preferred on the intraday and short term basis as long as the GBPUSD price remains below 1.6000 level, where breaching this level will lead the price to recovery attempts that its main targets begin at 1.6300.
Expected trading range for today is between: 1.5800 support and 1.6100 resistance.
Expected trend for today: Bearish
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