The GBPUSD approaches the target – Analysis - 04-12-2019
Economies.com
2019-12-04 05:50AM UTC
The GBPUSD pair settles at 1.3000 barrier, and the price keeps approaching from our waited target at 1.3045, which represents 76.4% Fibonacci correction level that was measured from 1.3381 to 1.1958, which means that breaching it will push the price to achieve more of the gains that reach to 1.3180 as a next station.
In general, we will keep preferring the bullish trend in the upcoming period, conditioned by holding above 1.2840 level, pointing that stochastic current negativity might cause some sideways fluctuation and a temporary decline before resuming the expected rise.
The expected trading range for today is between 1.2920 support and 1.3070 resistance.
The expected trend for today: Bullish
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