The GBPUSD pair declined strongly yesterday to succeed achieving our extended target at 1.2220, noticing that the price begins today with more decline on its way to visit the bearish channel’s resistance that appears on the chart, located now at 1.2070.
Therefore, the bearish trend will remain suggested in the upcoming sessions, noting that breaching 1.2295 will push the price to start recovery attempts that target testing 1.2380 areas and might extend to 1.2485 before any new attempt to decline.
The expected trading range for today is between 1.2070 support and 1.2240 resistance.
The expected trend for today: Bearish
Origin: Economies
