The GBPUSD pair traded with strong positivity in the previous sessions, to breach 1.2640 and reach the key resistance 1.2720, noticing that this level consolidates against the bullish rally and prevent the price from achieving more gains, accompanied by witnessing clear negative signals through stochastic.
Therefore, we believe that the chances valid to rebound bearishly and resume the correctional bearish trend, which targets 1.2580 followed by 1.2515 areas as next main stations, noting that breaching 1.2720 will stop the bearish correction and push the price to regain the main bullish trend again.
The expected trading range for today is between 1.2600 support and 1.2750 resistance.
The expected trend for today: Bearish
Origin: Economies
