The GBPUSD pair resumed its positive trading clearly to touch our first target at 1.2720, facing solid resistance there, as it shows some bearish bias now, affected by stochastic negativity, waiting to gather positive momentum that assist to push the price to surpass this level and open the way to head towards 1.2880 as a next main target.
Therefore, we will continue to suggest the bullish trend on the intraday and short-term basis supported by the EMA50, noting that the continuation of the bullish wave requires holding above 1.2590.
The expected trading range for today is between 1.2600 support and 1.2770 resistance.
The expected trend for today: Bullish
Origin: Economies
