GBPUSD loses momentum – Analysis - 17-01-2017
Economies.com
2017-01-17 04:41AM UTC
The GBPUSD pair fluctuates within sideways track since touching 1.1997 level, and the price might head to cover the bearish gap that appeared by this week opening before turning back to resume the main bearish trend.
In general, the bearish trend scenario still active on the intraday basis as long as the price is below 1.2118, supported by the negative pressure provided by the EMA50, besides that stochastic loses its positive momentum gradually, to form negative factor that supported resuming the decline, which its targets begin by breaking 1.1997 level to open the way to target 1.1935 level direct.
Expected trading range for today is between 1.1935 support and 1.2160 resistance.
Expected trend for today: Bearish
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