The GBPUSD pair provided more negative trades yesterday to break the bullish channel’s support line and settles below it, which puts the price under expected negative pressure on the intraday and short term basis, on its way to visit 1.1055 followed by 1.0920 areas.
On the other hand, we notice that the price recorded lower high that forms the beginning of forming double top pattern that might push the price to resume the bearish trend on the longer term basis, which encourages us to suggest the bearish bias in the upcoming sessions unless breaching 1.1240 and holding with a daily close above it.
The expected trading range for today is between 1.1100 support and 1.1260 resistance.
The expected trend for today: Bearish
Origin: Economies
