The GBPUSD pair traded with slight negativity yesterday to test the main bullish channel’s support line that appears on the chart, noticing that stochastic shows clear positive overlapping signal now, waiting to motivate the price to resume the bullish trend to head towards our next target at 1.2885.
Therefore, the bullish trend scenario will remain valid and active, supported by the EMA50 that carries the price from below, taking into consideration that breaking 1.2750 will put the price under correctional bearish pressure that its targets begin by testing 1.2660 before any new attempt to rise.
The expected trading range for today is between 1.2730 support and 1.2890 resistance.
The expected trend for today: Bullish
Origin: Economies
