The GBPUSD tests the support base – Analysis - 04-06-2020
Economies.com
2020-06-04 04:56AM UTC
The GBPUSD pair begins today negatively to test the support base formed above 1.2515 after breaching it previously, accompanied by stochastic reach to the oversold areas, which forms positive motive that we are waiting to push the price to resume the main bullish trend, which gets good support by the EMA50, reminding you that our next station is located at 1.2777.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 1.2515 will stop the suggested rise and put the price under negative pressure that its targets begin by testing 1.2400 and extend to 1.2304.
The expected trading range for today is between 1.2460 support and 1.2650 resistance.
The expected trend for today: Bullish
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