The GBPUSD approaches the extended target – Analysis - 30-03-2020

The GBPUSD pair succeeded to breach 1.2304 level and reached the thresholds of the extended target at 1.2515, affected now by stochastic negativity to start the day negatively, expecting to lean on 1.2304 before attempting to rise again.

Until now, we expect the continuation of the bullish bias domination in the upcoming sessions unless breaking 1.2304 level and holding below it, as breaking it will press on the price to turn to decline and achieve negative targets that start at 1.2093, noting that our targets begin at 1.2515 and extend to 1.2777 after breaching the previous level.

The expected trading range for today is between 1.2250 support and 1.2460 resistance.

The expected trend for today: Bullish