GBPUSD covers the gap – Analysis - 16-10-2018
Economies.com
2018-10-16 04:19AM UTC
The GBPUSD pair settles above the EMA50, in attempt to build support base that reinforces the chances of continuing the bullish bias in the upcoming sessions, as the price keeps moving inside the bullish channel that appears on the chart, waiting to test 1.3226 level as a next station.
Holding above 1.3065 keeps the bullish trend scenario active, as breaking it will push the price to test 1.2962 initially, while breaching 1.3226 will extend the bullish wave to reach 1.3300 as a next positive target.
Expected trading range for today is between 1.3065 support and 1.3240 resistance.
Expected trend for today: Bullish
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