GBPUSD approaches the resistance – Analysis - 26-09-2018

The GBPUSD pair surpassed the EMA50 and settled above it, to hint the attempts to recover on the intraday basis, approaching the key resistance 1.3226, but we notice that stochastic provides clear negative signals now, which might prevent the price mission to recover.

Therefore, we prefer staying aside temporarily until we get clearer signal for the next trend, waiting to breach 1.3226 resistance or break 1.3100 support, noting that breaching the mentioned resistance will lead the price to achieve gains that start at 1.3300 and extend to 1.3490, while breaking the support will push the price to visit 1.2963 level mainly.

Expected trading range for today is between 1.3055 support and 1.3270 resistance.

Expected trend for today: Depends on the above mentioned levels