GBP USD under the negative pressure – Analysis - 08/02/2016

The GBPUSD pair traded with clear negativity in last Friday to attack 1.4515 level and settles below it, but we notice that the EMA50 forms support base that stops the current decline, besides stochastic clear positive signal on the four hours time frame.

Therefore, these factors encourage us to keep our bullish trend expectations on the intraday and short- term basis, waiting for testing 1.4785 level as a next main station, being aware that breaking 1.4440 level will put the price under more negative pressure and stops the bullish correctional scenario.

Expected trading range for today is between 1.4440 support and 1.4650 resistance.

Expected trend for today: Bullish