GBPUSD attempts to breach – Analysis - 18-10-2018
The GBPUSD pair continued to decline yesterday to start testing the bullish channel’s support line that appears on the chart, moving below the EMA50 to fall under negative pressure now, noticing that the price draws double top pattern after failing to breach 1.3226 level in the second attempt.
Therefore, these factors make us suggest witnessing more decline in the upcoming sessions, and breaking 1.3083 will activate the negative effect of the mentioned pattern and push the price to head towards 1.2962 direct, taking into consideration that breaching 1.3140 will stop the negative scenario and push the price to test 1.3226 level again.
Expected trading range for today is between 1.3000 support and 1.3170 resistance.
Expected trend for today: Bearish
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