The GBPUSD pair rallied upwards strongly yesterday to surpass our waited target at 1.2210 and reach 1.2275, but it faces negative pressure now, affected by stochastic negativity, and it might test the bullish channel’s support line that appears on the chart before turning back to rise again.
The EMA50 continues to support the price from below, to continue suggesting the main bullish trend unless breaking 1.2077 and holding below it, noting that our next target reaches 1.2425.
The expected trading range for today is between 1.2100 support and 1.2300 resistance.
The expected trend for today: Bullish
Origin: Economies
