The GBPUSD pair provided clear negative trades yesterday and attempted to break 1.2725 level, but it returns to settle above it, waiting to get negative motive that assist to push the price to confirm the break and head towards our next target at 1.2625.
Stochastic loses its positive momentum clearly to support the chances of resuming the negative trades, and we expect the continuation of the bearish trend affected by the double top pattern that appears on the chart, which its negative targets extend to reach 1.2505 areas, noting that breaching 1.2825 will stop the current negative pressure and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 1.2660 support and 1.2825 resistance.
The expected trend for today: Bearish
Origin: Economies
