The GBPUSD pair managed to confirm breaking 1.2476 level after closing the daily candlestick below it, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, organized inside the bearish channel that appears on the above chart, supported by the EMA50, waiting to target 1.2260 as a next main station.
Note that holding below 1.2476 represents the first condition to continue the expected decline, as breaching it might push the price to test 1.2580 areas initially before any new attempt to decline.
The expected trading range for today is between 1.2360 support and 1.2520 resistance.
The expected trend for today: Bearish
Origin: Economies
