Forex

Midday update for the GBPUSD 25-03-2020

2020-03-25 10:52:52 GMT (Economies.com)

The GBPUSD pair rallied upwards to breach 1.1830 strongly and activates the positive effect of the double bottom pattern mentioned this morning, which supports the continuation of the bullish trend scenario efficiently for the rest of the day, waiting to test 1.2093 level as a next station, noting that breaching this level will extend the bullish wave to reach 1.2305, while the expected rise will remain valid conditioned by the price stability above 1.1830.

 

The expected trading range for today is between 1.1830 support and 1.2050 resistance.

 

The expected trend for today: Bullish

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