The GBP/USD gains the positive momentum – Analysis – 03/08/2020

forex_news_gbp_7The GBPUSD pair approached our waited target at 1.3200 and bounced bearishly to test 1.3055 areas, noticing that stochastic got rid of its negative momentum to reach the oversold areas, waiting to motivate the price to resume the main bullish trend, which gets continuous support by the EMA50.

Therefore, we are waiting for positive trades in the upcoming sessions, noting that breaching 1.3200 will push the price to 1.3285 as a next positive station, while the expected rise will remain valid conditioned by the price stability above 1.3000.

The expected trading range for today is between 1.3000 support and 1.3180 resistance.

The expected trend for today: Bullish

Origin: Economies

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