FX.co ★ Daily analysis of GBP/USD for February 21, 2017

Overview

The GBP/USD pair keeps fluctuating near the intraday bullish channel's support, and the price faces negative pressure from the EMA50 and stochastic, which make the price mission to continue the bullish trend difficult. In general, we will keep our bullish trend expectations in the upcoming period unless breaking 1.2339 level and holding below it, where breaking this level will stop the bullish correctional scenario; it may push the price to head towards the previously recorded bottom at 1.1997, pointing that the waited positive targets begin at 1.2550 and extend to 1.2720.