The GBPUSD pair touched our initial waited target at 1.2304 and finds a strong support from there, to test the resistance of the intraday bearish channel that appears in the image, accompanied with stochastic loose to the positive momentum, which supports the chances for resuming the negative trading to break the mentioned level and opening the way towards 1.2093 that represents our next main station.
therefore, we will keep preferring the bearish trend in the upcoming period, reminding you that breaching 1.2420 will motivate the price to achieve an intraday rise that targets testing 1.2515 level before any new negative attempt.
The expected trading range for today is between 1.2250 support and 1.2450 resistance.
The expected trend for today: Bearish
Origin: Economies
