The GBPUSD pair suffered additional losses yesterday to succeed achieving our extended target at 1.2000, and attempted to break it to reach 1.1930 areas, but it recovers now and heads towards potential test to the resistance line formed around 1.2070, affected by stochastic positivity.
The EMA50 continues to press negatively on the price, to continue suggesting the bearish trend for the upcoming period unless the price rallied to breach 1.2070 followed by 1.2150 levels and holding above them, noting that our next target reaches 1.1900.
The expected trading range for today is between 1.1930 support and 1.2100 resistance.
Origin: Economies
