The GBPUSD pair declined strongly on last Friday to break 1.3720 and reach the first negative target at 1.3665, noticing that the price completed forming double top pattern that supports the chances of achieving more expected decline in the upcoming sessions, to surpass the current level and reach 1.3605 as a next target.
Therefore, we expect to witness additional negative trades today supported by moving below the EMA50, taking into consideration that breaching 1.3720 will stop the current negative pressure and lead the price to attempt to recover.
The expected trading range for today is between 1.3580 support and 1.3750 resistance.
The expected trend for today: Bearish
Origin: Economies
