The GBPUSD pair shows calm negative trades to move away from 1.2470 level, reinforcing the expectations of continuing the correctional bearish trend, which targets 1.2345 as a next station, reminding you that we suggest the extension of the bearish wave, affected by the head and shoulders’ pattern that its signs appear on the chart, to head towards 1.2240 areas on the near term basis.
Therefore, the bearish trend will remain active for the upcoming period, noting that it is important to hold below 1.2470 and 1.2525 levels to continue the expected decline.
The expected trading range for today is between 1.2350 support and 1.2500 resistance.
The expected trend for today: Bearish
Origin: Economies
