Midday update for GBPUSD 12-01-2017
The GBPUSD pair rallied to the upside to breach 1.2230 level and attempts to settle above it, which makes us stop the suggested negative scenario in our morning report waiting for getting clearer signal for the next trend, which we will get it by breaching one of the critical levels that represented by 1.2230 support and 1.2339 resistance.
Therefore, we will remain aside now, pointing that breaking the mentioned support will turn the price to the bearish track that its next main target located at 1.1997, while breaching the resistance will extend the gains to reach 1.2550 on the near term basis.
Expected trading range for today is between 1.2100 support and 1.2339 resistance.
Expected trend for today: Depends on the above mentioned levels
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