The GBPUSD pair traded with strong negativity yesterday to approach the key support 1.2962, to confine trades now between the mentioned support and 1.3226 resistance, as we expect the fluctuation within sideways track between the mentioned levels in the upcoming sessions.
Therefore, we suggest witnessing sideways trading until the price manages to breach one of the above mentioned level, noting that breaking 1.2962 will put the price under strong negative pressure that we expect to push trades towards 1.2636 on the near term basis, while breaching 1.3226 will lead the price to resume the short term bullish wave, which its next main target located at 1.3490.
The expected trading range for today is between 1.2962 support and 1.3200 resistance.
The expected trend for today: Sideways
Origin: Economies
