The GBPUSD pair bounced bullishly after attempting to break 1.2900 level yesterday, to test 1.3000 barrier that was broken previously, as we notice that the price keeps its stability below it until now, accompanied by stochastic loss to the positive momentum and starting to overlap negatively, which supports the chances of resuming the negative trades in the upcoming sessions, waiting to head towards 1.2705 mainly.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, noting that breaching 1.3000 and holding above it will lead the price to attempt to regain the main bullish trend and head towards 1.3240 areas initially.
The expected trading range for today is between 1.2900 support and 1.3070 resistance.
The expected trend for today: Bearish
Origin: Economies
