The GBPUSD pair managed to break 1.3890 level and hold with a daily close below it, and by taking a deeper look at the chart, we find that the price completed forming head and shoulders’ pattern that supports the continuation of the negative scenario efficiently in the upcoming sessions, opening the way to head towards 1.3805 as a next main target initially.
Therefore, the bearish bias will remain valid and active supported by the EMA50, noting that holding below 1.3890 represents the first condition to continue the expected decline.
The expected trading range for today is between 1.3780 support and 1.3930 resistance.
The expected trend for today: Bearish
Origin: Economies
