The GBPUSD pair broke 1.2077 level clearly in the previous sessions and rallied below 1.2000 barrier, but it rebounds bullishly to trade around 1.2100 now, noticing that stochastic loses its positive momentum clearly, while the EMA50 forms continuous negative pressure on the price.
Therefore, we will continue to suggest the bearish trend for the upcoming period, which depends on the price stability below 1.2225, while our next target is located at 1.1933.
The expected trading range for today is between 1.2000 support and 1.2160 resistance.
The expected trend for today: Bearish
Origin: Economies
