The GBPUSD pair fluctuates around 1.0840 level since yesterday, and continues to move within the correctional bearish channel, waiting to resume the bearish bias that its next main target located at 1.1625, supported by stochastic loss to the positive momentum clearly.
By taking a deeper look at the chart, we find that the price completed forming double top pattern that hast negative targets that surpass the above mentioned level to reach 1.1370 areas, to suggest the domination of the bearish trend on the longer term basis.
Therefore, we are waiting for more decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, reminding you that it is important to hold below 1.1940 to achieve the waited targets.
The expected trading range for today is between 1.1750 support and 1.1900 resistance.
The expected trend for today: Bearish
Origin: Economies
