The GBPUSD faces negative pressure – Analysis - 14-07-2020

The GBPUSD pair ended yesterday with clear negativity to approach the key support base 1.2515, noticing that the EMA50 attempts to protect the price from suffering more losses, while stochastic shows oversold signals now.

Therefore, we believe that the chances valid to resume the bullish trend in the upcoming sessions, as the positive effect of the inverted head and shoulders’ pattern still active, waiting to head towards 1.2777 that represents our next main target, noting that breaking 1.2515 and holding below it will press on the price to turn to decline and achieve negative targets that start at 1.2400 and extend to 1.2304.

The expected trading range for today is between 1.2490 support and 1.2660 resistance.

The expected trend for today: Bullish