The GBPUSD hits the extended target – Analysis - 17-10-2019

The GBPUSD pair succeeded to achieve our waited target at 1.2840 and settles there, and the price is affected by the completion of the double bottom pattern that its signs appear on the chart, which supports the chances of breaching the mentioned level and open the way to achieve more rise in the upcoming period, noting that our next target is represented by testing the psychological barrier at 1.3000.

Therefore, the bullish trend will remain suggested on the intraday and short term basis, taking into consideration that failing to breach 1.2840 will press on the price to provide negative trades that target testing 1.2670 initially before any new attempt to rise.

The expected trading range for today is between 1.2750 support and 1.2920 resistance.

The expected trend for today: Bullish