09.11.2018
The royal currency fluctuated during the American session yesterday to witness its rebound to the second session of its highest since October 17 against the US dollar amid a lack of economic data by the British Royal economy and following developments and economic data that followed Thursday the largest US economy A world economy and a view of the FOMC meeting in Washington.
GBPUSD dropped to 1.3010 from the opening levels of 1.3060 after the pair reached a low of 1.3010 and a high of 1.3069.
Technical Analysis:
The GBPUSD extended yesterday's negative trading session near the SMA 50, accompanied by stochastic access to oversold areas and the price reached the Bollinger's bottom line, awaiting a rebound to resume the upside move.
All in all, we will keep our bullish outlook intact unless the 1.2960 level is breached and stability above it, noting that we are waiting for a visit to 1.3226, which is our primary target.
The trading range for today is expected among 1.2980 support and 1.3150 support
Support and resistance:
Support: 1.2970-1.2930-1.2870
Resistance: 1.3070-1.3125-1.3170
The general trend for today is bullish
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