GBPUSD Market Analysis


12012016, 08:44 PM,
The GBPUSD pair rallies strongly to the upside to breach 1.2550 level and attempts to settle above it, which activates the bullish trend scenario on the intraday basis, opening the way towards targeting 1.2720 level as a next main station. Therefore, the bullish bias will be preferred for the rest of the day supported by the trading above the EMA50, pointing that the price failure to achieve a daily close above 1.2550 will turn the trading to the sideways range again. Expected trading range for today is between 1.2400 support and 1.2720 resistance. 


12022016, 08:26 PM,
The GBPUSD pair shows slight positive trading in attempt to move away from 1.2550, which supports the continuation of our bullish overview efficiently for today, which is reinforced by the EMA50, waiting to test 1.2720 initially, reminding you that breaching this level will extend the bullish wave towards 1.2890 direct. In general, the bullish trend will remain valid for today unless we witnessed clear break and holding below 1.2550. Expected trading range for today is between 1.2500 support and 1.2720 resistance. 


12052016, 08:41 PM,
The GBPUSD pair is attempting to breach 1.2720 level now, which supports the continuation of our bullish trend expectations efficiently for the upcoming period, noting that getting four hours' candlestick above the mentioned level will provide good positive motive to push the price to continue the rise for the rest of the day, waiting to visit 1.2860 level mainly. Therefore, the bullish bias will remain suggested on the intraday basis supported by the EMA50, conditioned by the price stability above 1.2550 level. Expected trading range for today is between 1.2600 support and 1.2800 resistance. 


12062016, 04:18 PM,
The GBPUSD pair managed to breach 1.2720 level and close the daily candlestick above it, which confirms opening the way to head towards the main bearish channel's resistance located at 1.2860 now, and the price might extend to test 61.8% Fibonacci correction level at 1.2890. Therefore, the bullish trend will remain dominant on the upcoming trading conditioned by the price stability above 1.2720, as breaking this level represents negative factor that might push the price to visit 1.2550 level before any new attempt to rise. Expected trading range for today is between 1.2670 support and 1.2860 resistance. 


12082016, 03:25 PM,
The GBPUSD pair bounced upwards clearly after approaching from 1.2550 support level yesterday, as the price got good positive motive provided by stochastic, which supports the chances of testing 1.2720 again. Therefore, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, noting that breaching 1.2720 level will push the price to test 1.2840 level direct, while the expected rise will remain valid unless breaking 1.2550 level and holding below it. Expected trading range for today is between 1.2550 support and 1.2800 resistance. 


12092016, 04:40 PM,
The GBPUSD pair bounced strongly to the downside after approaching from 1.2720 level yesterday, to test the key support 1.2550, accompanied by witnessing clear positive signals through stochastic on the four hours' time frame, which supports the chances of the return to resume the positive trading in the upcoming sessions. Therefore, the bullish trend will be suggested for today unless breaking 1.2550 level and holding below it, as breaking this level represents negative factor that will push the price to head towards 1.2339 direct, while the expected bullish wave targets start at 1.2720 and extend to 1.2830. Expected trading range for today is between 1.2500 support and 1.2720 resistance. 


12122016, 04:07 PM,
The GBPUSD pair trading settles near the critical support at 1.2550, keeping its stability above this level, as long as the price above this level so the chances will remain valid for resuming the bullish wave that targets testing the resistance of the main bearish channel at 1.2825, and the price needs to surpass the EMA50 that forms an intraday resistance barrier at 1.2595 to ease achieving the mentioned target. Therefore, we keep preferring the bullish trend in the upcoming sessions, taking into consideration that breaking 1.2550 level will stop the positive scenario and pushes the price to attempt to return to the long term bearish trend, and the negative targets begin at 1.2339 and extend to 1.1997. Expected trading range for today is between 1.2500 support and 1.2720 resistance. 


12132016, 08:44 PM,
The GBPUSD pair touched 1.2720 level and settles there, accompanied by witnessing clear overbought signals through stochastic, which might force the price to provide some negative trading before turning back to rise again. In general, the bullish trend will remain valid and active for today unless breaking 1.2550 level and holding below it, reminding you that breaching 1.2720 level will extend the bullish wave towards 1.2815 as a next main target. Expected trading range for today is between 1.2550 support and 1.2815 resistance. 


12142016, 10:57 PM,
The GBPUSD pair fluctuates within tight track since morning settling near the EMA50, and as long as the price is below 1.2720, our bearish trend overview will remain valid and active for today, waiting to test 1.2550 level mainly. Carefully note that reaching the targeted level will complete forming bearish pattern that has the ability to push the price towards 1.2339 direct in case the price succeeded to break its neckline at 1.2550, which will open the way to the price return to the main bearish trend that was stopped for some temporary bullish correction. Expected trading range for today is between 1.2550 support and 1.2720 resistance. 


12152016, 08:53 PM,
The GBPUSD pair keeps its stability below 1.2550 level, which keeps the negative pressure valid until now, supported by the EMA50, waiting to resume the bearish bias that targets visiting 1.2339 level as a next main station.
Therefore, we will keep our bearish overview valid for the upcoming period affected by the completion of the double top pattern that appears on chart, noting that breaching 1.2550 level and holding above it will stop the current negative pressure and push the price to test 1.2720 areas again.
Expected trading range for today is between 1.2390 support and 1.2625 resistance. 


12162016, 08:59 PM,
The GBPUSD pair fluctuates around the bullish channel's support that appears on chart, as the price is affected by stochastic current positivity, while the negative pressure still valid for the upcoming period as long as 1.2550 level remains intact, supported by the EMA50. Therefore, the bearish trend will remain suggested for the rest of the day, reminding you that our next main waited target at 1.2339, which breaking it represents negative factor that will push the price to suffer more losses that its next targets reach to 1.1997. Expected trading range for today is between 1.2280 support and 1.2500 resistance. 


12192016, 09:51 PM,
The GBPUSD pair resumes its negative trading to push on the bullish channel's support that appears on chart, as stochastic negative effect begins on the intraday trading, reinforcing our expectations of continuing the negative scenario for the rest of the day. Therefore, we are waiting for more decline in the upcoming sessions conditioned by the price stability below 1.2550 level, reminding you that our main targets start at 1.2339 and extend to 1.1997 after breaking the previous level. Expected trading range for today is between 1.2339 support and 1.2550 resistance. 


12202016, 09:43 PM,
The GBPUSD pair resumes its negative trading to reach the thresholds of the first waited target at 1.2339, waiting to break this level to confirm the continuation of the bearish wave on the longer term basis, followed by opening the way to target 1.1997 level in the upcoming period. Therefore, our bearish overview will remain valid on the intraday and short term basis conditioned by the price stability below 1.2415 and the most important below 1.2550. 


12212016, 10:21 PM,
The GBPUSD pair returns to push on the critical support level at 1.2339 in attempt to confirm breaking it, which keeps the bearish trend scenario valid until now, supported by the EMA50 and the negative signal that comes from stochastic, waiting for opening the way towards 1.1997 that represents the next main target for the current bearish wave. Therefore, we will keep preferring the bearish trend in the upcoming sessions unless breaching 1.2420 and the most important 1.2550 and holding above it. Expected trading range for today is between 1.2250 support and 1.2480 resistance. 


12222016, 10:58 PM,
The GBPUSD pair achieved an initial break to 1.2339 level and closed the four hours candlestick below it, which supports the continuation of our bearish trend expectations efficiently in the upcoming period, opening the way towards our next main target at 1.1997. Therefore, we wait for more of the downside moves for the rest of the day supported by the EMA50, unless witnessing clear breach and stability above 1.2430. Expected trading range for today is between 1.2250 support and 1.2430 resistance. 
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