The GBPUSD pair bounced downwards strongly after the temporary rise that it witnessed yesterday, to test 1.2100 barrier, waiting for more bearish bias to visit 1.2050 level that represents our next main station.
Therefore, the negative scenario will remain valid and dominant in the upcoming period, taking into consideration that breaching 1.2250 will stop the expected decline and push the price to start recovery attempts that target 1.2315 followed by 1.2385 levels mainly.
The expected trading range for today is between 1.2030 support and 1.2200 resistance.
The expected trend for today: Bearish
Origin: Economies
