The GBPUSD pair bounced bearishly after testing 1.2725 level in the previous sessions, to gradually approach our waited negative target at 1.2625, and we suggest the continuation of the bearish bias to surpass the mentioned level and achieve additional negative targets that reach 1.2505.
Therefore, the bearish trend will remain dominant on the intraday and short-term basis, supported by the previously completed double top pattern, reminding you that breaching 1.2725 followed by 1.2825 will stop the bearish trend and push the price to return to the main bullish trend again.
The expected trading range for today is between 1.2570 support and 1.2740 resistance.
The expected trend for today: Bearish
Origin: Economies
