The GBPUSD hits the first positive target - Analysis - 22-10-2020

The GBPUSD pair continued its bullish rally to succeed achieving our first expected positive target at 1.3165, noticing that the price finds solid resistance as this level, to start declining now, which makes us expect heading towards testing the key support base 1.3000 before turning back to resume the bullish trend.

Therefore, the bearish bias will be expected, supported by the negative signals that appear clearly through stochastic, noting that breaching 1.3165 will push the price to resume the bullish trend and head towards the next positive target that reaches 1.3265.

The expected trading range for today is between 1.3030 support and 1.3200 resistance.

The expected trend for today: Bearish temporarily