The GBP/USD pair managed to touch the 1.2625 level and rebound strongly, testing the pivotal resistance of 1.2725, while the Stochastic indicator lost its positive momentum, awaiting a downward trend in trading towards 1.2625 then 1.2500 as the next main target.
We maintain our downward trend outlook, provided that prices hold below 1.2725, and most importantly below 1.2835.
Expected trading range for today is between the 1.2620 support and the 1.2790 resistance.
Expected trend for today: Bearish
Origin: Economies
