FX.co ★ Daily analysis of GBP/USD for February 24, 2017

Overview

The GBP/USD pair has been hovering around 1.2550 levels since morning and made an initial attempt to breach it, keeping the bullish trend scenario active for today; the price is likely to rally to 1.2720 directly. Therefore, the bullish trend scenario will remain valid in the upcoming sessions unless breaking and holding below 1.2475 levels, pointing that the EMA50 provides positive support for the suggested bullish wave. The expected trading range for today is between the 1.2475 support and the 1.2650 resistance.