The GBPUSD pair bounced upwards clearly to end yesterday above 1.2470 level, to stop the correctional bearish scenario and head towards regaining the main bullish trend again, on its way to achieve positive targets that start at 1.2600 and extend to 1.2680.
Therefore, the bullish bias will be suggested for today, it might be preceded by some sideways fluctuation affected by stochastic negativity, noting that breaking 1.2470 will put the price under the correctional bearish pressure again, to head towards visiting 1.2345 areas on the near term basis.
The expected trading range for today is between 1.2420 support and 1.2580 resistance.
The expected trend for today: Bullish
Origin: Economies
