GBPUSD tests the resistance – Analysis - 14-08-2018
Economies.com
2018-08-14 04:15AM UTC
The GBPUSD pair trades with slight positivity to test the intraday bearish channel’s resistance that appears on the chart, accompanied by stochastic approach to the overbought areas, while the EMA50 keeps pressing negatively on the price.
Therefore, we believe that the chances are valid to resume the expected bearish trend on the short term basis, which its next main target located at 1.2636, noting that breaching 1.2785 might push the price to achieve intraday gains that reach 1.2962 before any new negative attempt.
Expected trading range for today is between 1.2660 support and 1.2850 resistance.
Expected trend for today: Bearish
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