The GBPUSD pair rallied upwards strongly yesterday to surpass our extended waited target at 1.2620 and opens the way to achieve more expected negative targets on the longer term basis, as it attacks the bearish channel’s support line and attempts to hold below it, to head towards testing 1.2500 areas as a next main station.
Therefore, the bearish bias will remain suggested in the upcoming period, noting that breaching 1.2595 and holding above it will motivate the price to start intraday bullish correction before turning back to decline again.
The expected trading range for today is between 1.2490 support and 1.2640 resistance.
The expected trend for today: Bearish
Origin: Economies
