The GBPUSD pair tested the key support base 1.2077 and bounced upwards strongly from there, to keep the bullish trend scenario valid and active for the upcoming period, affected by the previously completed inverted head and shoulders’ pattern, organized inside the bullish channel that appears on the chart, noting that our next targets begin at 1.2285 and go further to 1.2490.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 1.2077 and holding below it.
The expected trading range for today is between 1.2100 support and 1.2290 resistance.
The expected trend for today: Bullish
Origin: Economies
