The GBPUSD pair opens today’s trading with new bearish bias to break 1.2515 and attempts to hold below it, and by taking a deeper look at the chart, we find that the price draws double top pattern that its confirmation line located at 1.2440, which means that breaking this level will confirm the continuation of the decline in the upcoming sessions, to head towards testing 1.2304 initially.
Therefore, the bearish bias will be expected for today, taking into consideration that breaching 1.2515 followed by 1.2575 levels and holding above them will stop the suggested negative scenario and leads the price to regain the bullish tack.
The expected trading range for today is between 1.2360 support and 1.2550 resistance.
The expected trend for today: Bearish
Origin: Economies
