GBPUSD rallies strongly – Analysis - 18-01-2017
Economies.com
2017-01-18 04:19AM UTC
The GBPUSD pair rallied strongly to the upside yesterday to close the daily candlestick above 1.2339 level, as we mentioned in our last technical update, this close opens the way towards continuing the gains in the upcoming period, which makes the price head towards 1.2550 as a next main station.
Therefore, the bullish trend will remain preferred unless breaking 1.2339 then 1.2285 levels and holding below it, where breaking these levels represents a negative factor that will push the price to resume its long term bearish track.
Expected trading range for today is between 1.2250 support and 1.2500 resistance.
Expected trend for today: Bullish
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