GBPUSD achieves some gains – Analysis - 16-08-2018
Economies.com
2018-08-16 04:34AM UTC
The GBPUSD pair shows some bullish bias after approaching our main waited target yesterday at 1.2636, noticing that stochastic loses its positive momentum gradually to approach the overbought areas, waiting to motivate the price to rebound bearishly and resuming the bearish bias again.
Therefore, the overall bearish trend will remain valid, supported by the EMA50, noting that breaching 1.2780 might push the price for an intraday bullish correction that targets testing 1.2855 areas and might extend to 1.2975 before any new attempt to decline.
Expected trading range for today is between 1.2620 support and 1.2800 resistance.
Expected trend for today: Bearish
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