Midday update for GBPUSD 27-03-2017
Economies.com
2017-03-27 11:22AM UTC
The GBPUSD pair continued its bullish rally to breach 1.2550 level and attempts to settle above it, reinforcing the expectations for the continuation of the bullish trend on the short term basis, waiting for more of the bullish bias that targets 1.2720 levels mainly.
Therefore, we will keep our positive expectations in the upcoming sessions unless breaking 1.2550 level and holding below it, where breaking this level will put the price under negative pressure that pushes the trading to test 1.2410 levels and it might reach 1.2339 before any new attempt to rise.
Expected trading range for today is between 1.2450 support and 1.2630 resistance.
Expected trend for today: Bullish
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