The GBPUSD pair fluctuates at the bullish correctional channel’s support, where it finds a strong resistance at 1.2520 barrier, and we still waiting for breaching this level to confirm the extension of the bullish wave on the short term basis, where the next target is located at 1.2670.
The EMA50 supports the price from below, while stochastic moves at the oversold levels, therefore, we believe that the chances are available for trading positively in the upcoming sessions, taking into consideration that breaking 1.2455 will stop the expected rise and pushes the price to decline again.
The expected trading range for today is between 1.2380 support and 1.2580 resistance.
The expected trend for today: Bullish
Origin: Economies
