The GBPUSD pair provided additional positive trades yesterday and attempted to breach 1.3250 level, but it returns to fluctuate around this level and shows bearish bias now, noticing that the recent trades are confined within rising wedge pattern that we expect to push the price to return to the bearish channel again, especially that stochastic shows clear negative signals now.
Therefore, we expect to witness negative trades in the upcoming sessions conditioned by the price stability below 1.3250 and 1.3275, noting that our first main target is located at 1.3160.
The expected trading range for today is between 1.3160 support and 1.3315 resistance.
The expected trend for today: Overall bearish
Origin: Economies
