The GBPUSD pair continued to decline strongly yesterday to reach the waited negative targe tat 1.1130, which represents 38.2% Fibonacci correction level for the rise measured from 1.0294 to 1.1645, and it might show some temporary bullish bias affected by stochastic positivity before turning back to decline again.
We expect the continuation of the bearish correctional domination on the upcoming trades unless the price rallied to breach 1.1325 and hold above it, noting that breaking 1.1130 will push the price to head towards 1.0970 as a next negative target.
The expected trading range for today is between 1.1100 support and 1.1280 resistance.
The expected trend for today: Bearish
Origin: Economies
