The GBPUSD pair bounced bullishly after reaching the thresholds of the first waited target at 1.2500, to test the key resistance 1.2560 now, accompanied by stochastic losing the positive momentum and moving inside the overbought areas, waiting to motivate the price to resume the main bearish trend, which its targets extend to 1.2400 after surpassing the first target.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions, noting that breaching 1.2560 will push the price to test 1.2636 before any new attempt to decline.
The expected trading range for today is between 1.2470 support and 1.2630 resistance.
The expected trend for today: Bearish
Origin: Economies
