GBPUSD under the negative pressure – Analysis - 12-07-2017
Economies.com
2017-07-12 03:30AM UTC
The GBPUSD pair could not manage to hold for long time above 1.2890 level, to rebound bearishly and settle below this level, which keeps the bearish trend scenario valid for the upcoming period, affected by the double top pattern that appears on chart.
Therefore, we are waiting for negative trading in the upcoming sessions supported by the pressure formed by the EMA50, reminding you that our main waited target is located at 1.2720, while breaching 1.2890 and holding above it represents the key to return to the short term bullish trend.
Expected trading range for today is between 1.2720 support and 1.2900 resistance.
Expected trend for today: Bearish
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