GBPUSD retests – Analysis - 22-10-2018
Economies.com
2018-10-22 04:29AM UTC
The GBPUSD pair retests the previously broken neckline of the double top at 1.3085 and keeps its stability below it, accompanied by stochastic losing the positive momentum gradually to approach the overbought areas, which forms negative factor that we are waiting to assist to push the price to resume the bearish trend again, which its next target located at 1.2962.
The EMA50 forms intraday resistance to support the expectations to decline, noting that the continuation of the bearish bias conditions holding below 1.3115.
Expected trading range for today is between 1.2962 support and 1.3150 resistance.
Expected trend for today: Bearish
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