GBPUSD builds support base – Analysis - 16-04-2018

The GBPUSD pair settles above the breached resistance line that turns into intraday support base now at 1.4195, and the price needs to hold above this level to guarantee the continuation of the bullish momentum, reminding you that our waited target is located at 1.4344.

Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise, which its targets extend to reach 1.4500 after surpassing the first target, noting that breaking 1.4195 will turn the intraday track to decline, to test 1.4040 and might extend to 1.3817 areas before any new attempt to resume the main bullish trend.

Expected trading range for today is between 1.4190 support and 1.4360 resistance.

Expected trend for today: Bullish