The GBPUSD pair provided additional positive trades yesterday to attack 1.2515 and attempts to hold above it, settling above the EMA50, which hints the price head to attempt to achieve more gains in the upcoming sessions, while we notice that stochastic shows big overbought signals, and it might press on the price to resume the negative trades again.
Therefore, this contradiction between the technical factors makes us prefer staying aside until we get clearer signal for the next trend, noting that consolidating below 1.2515 will push the price to decline again and head towards 1.2304 as a main negative target, while breaching 1.2590 represents the key to achieve more positive targets and head towards 1.2777 as a next positive station.
The expected trading range for today is between 1.2420 support and 1.2620 resistance.
The expected trend for today: Neutral
Origin: Economies
