GBPUSD tests the resistance – Analysis - 13-03-2018

The GBPUSD pair tests the correctional bearish channel’s resistance that declines now to 1.3915, forming key level to determine the next trend, as breaching it will push the price to resume the main bullish trend that its next target located at 1.4344.

On the other hand, the stability of the mentioned resistance and bouncing bearishly to break 1.3817 will push the price to extend its bearish correction and head towards 1.3490 direct.

Therefore, we will continue with our neutrality until the price confirms surpassing one of the above mentioned key levels.

Expected trading range for today is between 1.3800 support and 1.4000 resistance.

Expected trend for today: Depends on the above mentioned levels