The GBPUSD pair tested the bearish channel’s resistance that appears on the chart and begins to provide bearish rebound signals now, and the EMA50 meets this resistance to add more strength to it, while stochastic shows clear negative signals now.
Therefore, these factors encourage us to suggest the beginning of new bearish wave now, its targets begin at 1.2165 and extend to 1.2080, noting that holding below 1.2295 is important to achieve the suggested targets.
The expected trading range for today is between 1.2260 support and 1.2320 resistance.
Origin: Economies
