The GBPUSD pair faces solid support at 1.2705 level, as it finds difficulty to break it, to trade positively and moves around the bearish channel’s resistance, noticing that the EMA50 continues to form negative pressure that supports the continuation of the expected bearish trend scenario for the upcoming period, which its targets begin by breaking the mentioned support to open the way to head towards 1.2540 as a next station.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 1.2815 will stop the suggested decline and push the price to head towards testing 1.3000 areas before any new attempt to decline.
The expected trading range for today is between 1.2660 support and 1.2840 resistance.
The expected trend for today: Bearish
Origin: Economies
