The GBP/USD is forced to decline – Analysis – 10/07/2020

usd_gbp_news_2The GBPUSD pair trades negatively after reaching 1.2670 areas yesterday, noticing that stochastic managed to get rid of its negativity to gain clear positive momentum now, waiting to motivate the price to resume the expected bullish trend in the upcoming period, affected by the previously completed inverted head and shoulders’ pattern.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, reminding you that our waited target is located at 1.2777, while holding above 1.2515 represents key condition to achieve it.

The expected trading range for today is between 1.2500 support and 1.2700 resistance.

The expected trend for today: Bullish

Origin: Economies

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