Despite the lack of the bullish momentum with GBP/USD, we notice frequent positive closings above the initial support at 150.00. On the other hand, leaning on 50% Fibonacci correction level at 149.11 creates the main factor to block the price within the bullish range and form a solid barrier against any attempt to build a correctional bearish bias. Therefore, we will keep waiting until the pair gains momentum to surpass the previously recorded top at 152.80. Then, the pair could start recording new targets at 155.20 and 156.90. The expected trading range for today is between 150.00 and 152.80
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.