Midday update for the GBPUSD 27-05-2020
Economies.com
2020-05-27 10:00AM UTC
The GBPUSD pair retests 1.2304 level that was breached previously to form key support line now, accompanied by stochastic reach to the thresholds of the oversold areas, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which targets 1.2400 followed by 1.2515 levels mainly.
Note that pressing negatively on 1.2304 and breaking it and holding below it will stop the expected rise and push the price back to the bearish track that its first target located at 1.2093.
The expected trading range for today is between 1.2230 support and 1.2420 resistance.
The expected trend for today: Bullish
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