The GBPUSD pair’s recent trades are confined within bullish pennant pattern that appears on the minor image, thus, breaching 1.2720 will activate the positive effect of this pattern and push the price to resume the expected bullish trend on the intraday and short-term basis, to open the way to head towards our next main target at 1.2880.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 1.2665 will cancel the mentioned pattern and push the price to decline towards 1.2590 areas mainly.
The expected trading range for today is between 1.2650 support and 1.2800 resistance.
The expected trend for today: Bullish
Origin: Economies
