The GBPUSD pair provided positive trades to test the EMA50 that forms continuous resistance against the price, accompanied by stochastic loss to the positive momentum and witnessing negative overlapping signals on the four hours’ time frame, waiting to motivate the price to resume the main bearish trend, which its targets begin by testing 1.3160.
Holding below 1.3280 is important to continue the expected decline, as breaching it will lead the price to start correctional bullish wave on the intraday basis before turning back to decline again.
The expected trading range for today is between 1.3130 support and 1.3330 resistance.
The expected trend for today: Bearish
Origin: Economies
