GBPUSD retests – Analysis - 01-05-2017
Economies.com
2017-05-01 04:15AM UTC
The GBPUSD pair is retesting 1.2890 level that turns into support base after breaching it previously, noticing that stochastic gets rid of its negative momentum gradually to head towards the oversold areas, while the EMA50 continues to provide the positive support to the price.
Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions, which its next target is located at 1.3100, noting that breaking 1.2890 might push the price to visit 1.2720 areas before any new attempt to rise.
Expected trading range for today is between 1.2840 support and 1.3020 resistance.
Expected trend for today: Bullish
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