Midday update for GBPUSD 10-01-2017
Economies.com
2017-01-10 11:05AM UTC
The GBPUSD pair keeps its stability below 1.2200 level, to keep the negative pressure valid until now, supported by the negative pressure formed by the EMA50, noting that stochastic loses its positive momentum gradually heading towards the overbought areas, to reinforce the expectations of continuing the decline in the upcoming sessions.
Therefore, the bearish trend scenario will remain active for today conditioned by the price stability below 1.2200, reminding you that our next main target is located at 1.1997.
Expected trading range for today is between 1.2060 support and 1.2220 resistance.
Expected trend for today: Bearish
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