GBPUSD begins with bearish gap – Analysis - 03-09-2018
The GBPUSD pair ended last Friday’s trading at the key support 1.2963, but it opens today with bearish gap that puts the price at the intraday bullish channel’s support line that appears on the chart, noticing that the EMA50 meets this support to add more strength to it, while stochastic shows oversold signals now.
Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions, and the price needs to step above 1.2963 to ease the mission of heading towards our positive targets that start at 1.3090 and extend to 1.3226, noting that breaking 1.2905 will stop the expected rise and push the price to decline again.
Expected trading range for today is between 1.2850 support and 1.3030 resistance.
Expected trend for today: Bullish
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