GBPUSD gets the positive momentum – Analysis - 23-02-2017

The GBPUSD pair fluctuates within sideways track settled near the bullish channel’s support that appears in the image, we notice that stochastic moves at the oversold level now, to provide positive motive that we wait to assist to push the price to resume the bullish bias, which targets testing 1.2550 level initially.

Therefore, we keep preferring the bullish trend on the intraday and short term basis conditioned by holding above 1.2339 level, reminding you that breaching the targeted level will extend the pair’s gains to reach 1.2720 as a next main station.

Expected trading range for today is between 1.2370 support and 1.2600 resistance.

Expected trend for today: Bullish