GBPUSD loses momentum – Analysis - 23-02-2018
Economies.com
2018-02-23 05:27AM UTC
The GBPUSD pair provided positive trades yesterday to touch the minor bearish channel’s resistance that appears on the chart, which is met by the EMA50 to add more strength to it, accompanied by witnessing clear overbought signals through stochastic.
Therefore, we believe that the chances are valid to rebound bearishly and resume the expected bearish trend for the upcoming period, which its next main target located at 1.3796, while breaching 1.4005 represents the key to be released from the current negative pressure and regain the main bullish trend again.
Expected trading range for today is between 1.3850 support and 1.4020 resistance.
Expected trend for today: Bearish
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