The GBPUSD pair bounced downwards strongly yesterday after testing 1.3355 level, to touch 1.3200 barrier and rebounds bullishly to approach testing 1.3355 level again, and the EMA50 meets this level to add more strength to it, to support the continuation of the bearish trend scenario that targets 1.3160 level mainly.
Note that breaching 1.3355 will push the price to test the bearish channel’s resistance at 1.3435 before any new attempt to decline.
The expected trading range for today is between 1.3210 support and 1.3380 resistance.
The expected trend for today: Bearish
Origin: Economies
