Midday update for GBPUSD 09-01-2017
Economies.com
2017-01-09 11:28AM UTC
The GBPUSD pair achieved a strong break to 1.2200 level and settled below it, activating the bearish trend scenario that its next main target located at 1.1997, opening the way towards the continuation of the decline in the upcoming sessions.
Therefore, the bearish bias will be preferred for the rest of the day supported by the negative pressure that comes from the EMA50, pointing that breaching 1.2200 level will stop the expected decline and pushes the price to recovery attempts that its targets begin at 1.2339 and extend to 1.2550.
Expected trading range for today is between 1.2060 support and 1.2200 resistance.
Expected trend for today: Bearish
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