The GBPUSD resumes rising – Analysis - 09-07-2020
Economies.com
2020-07-09 04:01AM UTC
The GBPUSD pair bounced upwards clearly after testing 1.2515 level yesterday, to settle above 1.2600 barrier now, reinforcing the expectations of continuing the expected bullish trend on the intraday and short term basis, affected by the previously completed inverted head and shoulders’ pattern, reminding you that we are waiting to visit 1.2777 as a next main target.
The EMA50 supports the price from below, to reinforce the expectations of achieving more rise today, taking into consideration that the continuation of the bullish wave requires holding above 1.2515.
The expected trading range for today is between 1.2515 support and 1.2720 resistance.
The expected trend for today: Bullish
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