Forex

Midday update for the GBPUSD 18-07-2019

2019-07-18 09:24:19 GMT (Economies.com)

The GBPUSD pair shows more rise to test 1.2476, accompanied by stochastic move at the overbought areas, while the EMA50 forms negative pressure against the price, which keeps the chances valid to continue the expected negative scenario for today, which targets 1.2300 level as a next main station, taking into consideration that the continuation of the rise and breaching 1.2476 will stop the expected decline and push the price towards 1.2590 before any new negative attempt.

 

The expected trading range for today is between 1.2350 support and 1.2530 resistance.

 

The expected trend for today: Bearish

 

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