The GBPUSD pair’s rise stopped at 1.3925, as the EMA50 formed good resistance to rebound bearishly and head towards resuming the negative trades, to keep the negative effect of the head and shoulders’ pattern active, waiting to head towards 1.3695 as a main target.
Therefore, we expect the domination of the bearish trend in the upcoming sessions supported by stochastic negativity, noting that surpassing 1.3905 will push the price to rise again and visit 1.3990 level before any new attempt to decline.
The expected trading range for today is between 1.3780 support and 1.3940 resistance.
The expected trend for today: Bearish
Origin: Economies
