The GBPUSD pair provided positive trades yesterday to move above 1.2800 barrier, as it finds solid support at 1.2736 barrier, noticing that stochastic loses its positive momentum clearly, while the EMA50 forms continuous negative pressure against the price.
Therefore, these factors encourage us to suggest the bearish bias for today, and the price needs to break 1.2736 to confirm the extension of the bearish wave towards 1.2552, noting that surpassing 1.2845 will push the price to test the most important resistance to the short term trades at 1.2920 before any new attempt to decline.
The expected trading range for today is between 1.2730 support and 1.2870 resistance.
The expected trend for today: Bearish
Origin: Economies
