The GBPUSD pair surpassed 1.2845 level to head towards achieving more intraday gains, on its way for potential test to the key resistance 1.2920, noticing that the EMA50 forms negative pressure against the price, while stochastic forms big overbought signals.
Therefore, these factors support the chances of continuing the correctional bearish scenario in the upcoming period, which its targets begin by attacking 1.2736 to confirm extending the bearish wave towards 1.2552, taking into consideration that breaching 1.2920 will stop the expected decline and pushes the price to continue rising.
The expected trading range for today is between 1.2770 support and 1.2920 resistance.
The expected trend for today: Overall Bearish
Origin: Economies
