Midday update for GBP USD 02/09/2014

Economies.com
2014-09-02 10:55AM UTC

The GBPUSD pair succeeded to hit the main waited target at 1.6520 after the strong decline that appears this morning, and the price is testing this level, where breaking it represents the key for the bearish wave extension to reach 1.6360 areas, while stochastic enters the oversold levels to add more strength to the current support.

 

Now, we prefer staying aside temporarily in order to monitor the GBPUSD price behavior according to the current levels then detecting the next trend clearly.

 

Expected trading range for today is between: 1.6460 support and 1.6680 resistance.

 

Expected trend for today: Bearish 

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