10.01.2019
GBPUSD has managed to surpass SMA 50 and hold above it, which supports our bullish outlook for the next few sessions and we believe that the way ahead is to achieve our main target at 1.2962.
To make sure, moving averages 7-20 should intersect with SMA 50.
Stochastic is in an overbought position and is motivated to exit it so we can see some correction on price action
Therefore, we will maintain our bullish trend, noting that stability above 1.2725 represents the first requirement for the continuation of the suggested bullish wave.
The trading range for today is expected among 1.2725 support and 1.2900 resistance
Support and resistance:
Support: 1.2713-1.2638-1.2586
Resistance: 1.2786-1.2876-1.2982
The general trend for today is bullish
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