The GBPUSD pair hovers around 1.2525 level and finds difficulty to confirm breaching it, and it might witness some bearish bias affected by stochastic negativity, waiting to get positive momentum that assists to push the price to resume the bullish wave that its next target reaches 1.2610.
Therefore, the bullish trend scenario will remain valid and active, organized inside the bullish channel that appears on the chart, noting that breaking 1.2495 will put the price under intraday negative pressure that targets testing the mentioned channel’s support line around 1.2435 before any new attempt to rise.
The expected trading range for today is between 1.2450 support and 1.2610 resistance.
The expected trend for today: Bullish
Origin: Economies
