GBP USD tests the support – Analysis - 28/08/2015

The GBPUSD pair tested the key support 1.5405, which represents one of the next trend keys besides 1.5605 resistance, and as we mentioned in yesterday’s reports, the price needs to breach one of the mentioned levels to detect the next targets clearly, which makes our neutrality valid until now.

The contradiction between stochastic positivity and the EMA50 negativity still valid, reminding you that breaking the above mentioned support will push the price to visit areas that start at 1.5245 and might extend to 1.5085, while breaching the resistance represents the key of regaining the main bullish trend, which its first main target located at 1.5930.

Expected trading range for today is between 1.5300 support and 1.5605 resistance.

Expected trend for today: Neutral