The GBPUSD pair provided clear negative trades yesterday to approach the recently recorded low at 1.1410, but it begins today with bullish bias to hint forming double bottom pattern that supports the chances of achieving more bullish correction on the intraday and short term basis, and the price needs to breach 1.1830 to activate the positive effect of this pattern followed by rallying towards 1.2093 as a next positive target.
Therefore, we expect witnessing more rise today, waiting to test 1.1830 initially, noting that breaking 1.1410 will stop the positive scenario and presses on the price to suffer more losses on the medium term basis.
The expected trading range for today is between 1.1500 support and 1.1800 resistance.
The expected trend for today: Bullish
Origin: Economies
