GBPUSD achieves strong gains – Analysis - 22-03-2017

The GBPUSD pair provided strong positive trading yesterday to approach from our waited target at 1.2550, noticing that the price fluctuates in tight track now affected by losing the positive momentum on the intraday time frames, which might cause temporary sideways trading until the price gets positive motive that reinforces the chances for the continuation of the bullish trend.

The stability of the price above 1.2339 level keeps the bullish trend scenario valid in the upcoming period, where breaking this level will push the price to return to the main bearish track, and monitoring the price behavior when reaching 1.2550 level is important, and breaching it represents positive factor that will extend the gains to reach 1.2720 as a next main station.

Expected trading range for today is between 1.2400 support and 1.2550 resistance.

Expected trend for today: Bullish