The GBPUSD pair fluctuates within tight track since yesterday and settles below the EMA50, noticing that stochastic lost its positive momentum and begins to provide negative overlapping signal on the four hours’ time frame, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets testing 1.2920 level as a next station.
Therefore, we will keep our bearish overview unless the price rallied to breach 1.3150 level and holding with a daily close above it.
The expected trading range for today is between 1.2920 support and 1.3080 resistance.
The expected trend for today: Bearish
Origin: Economies
