The GBPUSD pair managed to break 1.2345 level and close the daily candlestick below it, which supports the continuation of the correctional bearish trend on the intraday and short term basis, opening the way to head towards 1.2240 as a next main target.
Therefore, we are waiting for more expected decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, being aware that breaching 1.2345 will push the price to attempt to recover and head to test 1.2435 followed by 1.2470 areas before any new negative attempt.
The expected trading range for today is between 1.2240 support and 1.2390 resistance.
The expected trend for today: Bearish
Origin: Economies
