The GBPUSD pair faced strong negative pressure yesterday to confirm breaking 1.2675 level and starting bearish correction for the rise that started from 1.2309 areas, as it surpassed 38.2% Fibonacci correction level to head towards achieving more negative targets that reach 1.2515.
On the other hand, we notice that the price completed forming double top pattern that supports the expectations to decline on the intraday basis, making the bearish bias suggested in the upcoming sessions unless the price rallied to breach 1.2680 followed by 1.2720 levels and holding above them.
The expected trading range for today is between 1.2530 support and 1.2690 resistance.
The expected trend for today: Bearish
Origin: Economies
