The GBPUSD approaches the target – Analysis - 16-05-2019
Economies.com
2019-05-16 00:41AM UTC
The GBPUSD pair traded with clear negativity yesterday to approach our main waited target at 1.2800, and the price falls under the negative effect of the head and shoulders’ pattern that appears on the chart, which supports the chances of continuing the bearish bias in the upcoming sessions, noting that surpassing the mentioned level will push the price towards 1.2636 on the near term basis.
Therefore, the bearish trend will remain valid and active unless breaching 1.2962 level and holding above it.
The expected trading range for today is between 1.2750 support and 1.2900 resistance.
The expected trend for today: Bearish
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