The GBPUSD pair didn’t settle for long time below the bullish channel’s support line, to trade positively and attempts to return to this channel again, to head towards regaining the main bullish trend and achieve gains that start by testing the recently recorded high at 1.2580.
The EMA50 supports the price and reinforce the chances of continuing the rise in the upcoming sessions, besides the positive signals provided by stochastic, noting that breaking 1.2475 will put the price under the correctional pressure and target testing 1.2400 level initially.
The expected trading range for today is between 1.2420 support and 1.2580 resistance.
The expected trend for today: Bullish
Origin: Economies
