The GBPUSD pair’s recent trades confined within bearish pennant pattern that appears on the minor image, which means that breaking 1.2145 will provide negative motive that supports the expectations of continuing the bearish trend, noting that our next target is located at 1.2050.
Therefore, we will continue to suggest the bearish trend for the upcoming sessions conditioned by the price stability below 1.2295, noting that stochastic begins to overlap negatively to support the expectations to decline.
The expected trading range for today is between 1.2050 support and 1.2240 resistance.
The expected trend for today: Bearish
Origin: Economies
