The GBPUSD pair declined strongly yesterday to succeed breaking 1.1015 level and closed the daily candlestick below it, which supports the continuation of the expected bearish trend scenario for the upcoming period, and the way is open to head towards our next main target at 1.0845.
The negative effect of the head and shoulders’ pattern still active, and the EMA50 continues to support the suggested bearish wave, taking into consideration that holding below 1.1015 represents initial condition to continue the expected decline.
The expected trading range for today is between 1.0850 support and 1.1015 resistance.
The expected trend for today: Bearish
Origin: Economies
