Midday update for GBPUSD 12-07-2017
Economies.com
2017-07-12 09:53AM UTC
The GBPUSD pair provided negative trading since morning affected by the double top pattern effect that completed previously after breaking 1.2890 level, and the price might be force to retest this level affected by stochastic positivity before the return to resume the bearish bias.
In general, the bearish trend scenario will remain active for today unless breaching 1.2890 level and holding above it, waiting for testing 1.2720 level mainly, pointing that breaching 1.2890 will lead the price to achieve gains that begin at 1.3100.
Expected trading range for today is between 1.2720 support and 1.2900 resistance.
Expected trend for today: Bearish
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