The GBPUSD pair bounced bearishly after approaching our waited positive target at 1.1980, as the EMA50 formed strong negative pressure against the price, to resume the main bearish wave within the bearish channel that appears on the chart, waiting to head towards 1.1800 as a next main station.
Breaking 1.1840 will reinforce the expectations of continuing the decline on the intraday and short term basis, while the negative scenario will remain valid unless breaching 1.1965 and hold above it.
The expected trading range for today is between 1.1790 support and 1.1960 resistance.
The expected trend for today: Bearish
Origin: Economies
