The GBPUSD pair resumed its negative trades strongly to attack 1.2515 level and attempts to break it, which supports the continuation of the expected bearish trend scenario on the intraday and short term basis, paving the way to head towards our next target that extends to 1.2304.
The EMA50 continues to press on the price to support the expectations to decline, reminding you that it is important to hold below 1.2620 to continue the negative scenario, as breaching it will push the price to test the key resistance 1.2777 before any new attempt to decline.
The expected trading range for today is between 1.2420 support and 1.2600 resistance.
The expected trend for today: Bearish
Origin: Economies
