Midday update for the GBPUSD 16-01-2020
Economies.com
2020-01-16 10:07AM UTC
The GBPUSD pair shows extra positive trading to test the resistance line that appears in the chart, and the EMA50 keeps pressing negatively on the price, while stochastic shows clear overbought signals.
therefore, the bearish trend scenario will remain valid for today unless breaching 1.3150 level and holding above it, pointing that we are waiting for visiting 1.2920 level as a next main target.
The expected trading range for today is between 1.2950 support and 1.3120 resistance.
The expected trend for today: Bearish
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