The GBPUSD pair provided strong negative trades yesterday to break 1.3000 and settles below it, which hints the price head to turn to decline, especially after completing negative formation that has negative that reach 1.2810, but we notice that the bullish channel’s support line attempts to protect the price from suffering more losses, supported by stochastic positivity.
Therefore, we need to monitor the upcoming trading to get clearer signal for the next trend, noting that breaking 1.2970 and holding below it will keep the negative pressure valid and push the price towards 1.2810 followed by 1.2705 as next negative stations, while breaching 1.3000 will revive the chances of resuming the main bullish trend that its first target located at 1.3225.
The expected trading range for today is between 1.2890 support and 1.3090 resistance.
The expected trend for today: Neutral
Origin: Economies
