GBPUSD breaks the support – Analysis - 28-09-2018

The GBPUSD pair traded negatively yesterday to break 1.3100 and settles below it, which activates the bearish trend scenario on the intraday basis, targeting heading towards 1.2963 as a next negative target.

On the other hand, we notice that the price is on its way to complete forming double top pattern that its confirmation line located at 1.3055, which hints the extension of the bearish wave on the short term basis to target 1.2800 areas.

Therefore, the bearish trend will be suggested in the upcoming sessions unless breaching 1.3226 level and holding above it.

Expected trading range for today is between 1.2965 support and 1.3150 resistance.

Expected trend for today: Bearish