The GBPUSD reaches the extended target – Analysis - 01-04-2019

The GBPUSD pair continued its strong decline on last Friday to reach the thresholds of the main waited target at 1.2962, and returns to fluctuate around 1.3000 barrier, noticing that the price broke the short term bullish trend line, hinting the price head to achieve more expected decline in the upcoming period.

Therefore, we suggest the continuation of the bearish trend domination on the intraday and short term basis, noting that breaking 1.2962 will push the price towards 1.2785 as a next main target, while breaching 1.3120 will stop the expected decline and lead the price to test 1.3226 areas again before any new attempt to decline.

The expected trading range for today is between 1.2930 support and 1.3100 resistance.

The expected trend for today: Bearish