The GBPUSD pair breached 1.2515 level clearly and closed the daily candlestick above it, to complete forming inverted head and shoulders’ pattern that its signs appear on the chart and activates the bullish trend scenario on the intraday and short term basis, targeting visiting 1.2777 level mainly.
Therefore, the bullish bias will be expected for today, supported by the EMA50, noting that breaking 1.2515 will stop the suggested rise and put the price under negative pressure on the intraday basis.
The expected trading range for today is between 1.2480 support and 1.2660 resistance.
The expected trend for today: Bullish
Origin: Economies
