GBPUSD attacks the key support – Analysis - 20-10-2017

The GBPUSD pair begins today's trading with clear negativity to attack the key support 1.3096 after yesterday's trading stability below the bullish channel's support that appears on chart, which hints the price head to suffer more losses in the upcoming period, noting that confirming breaking the mentioned support will push the price towards 1.2973 direct.

Now, we prefer staying aside temporarily until we get clearer confirmation signal for the next trend, which we will get through breaching one of the key levels represented by 1.3096 support and 1.3196 resistance, as breaching this resistance represents the key to return to the main bullish trend that its main targets begin at 1.3418 and extend to 1.3618.

Expected trading range for today is between 1.3000 support and 1.3220 resistance.

Expected trend for today: Depends on the above mentioned levels