The GBPUSD pair fluctuates around 1.2590 level and attempts to consolidate below it, noticing that the EMA50 forms negative pressure to protect the expected bearish trend scenario on the intraday basis, while stochastic begins to overlap negatively now.
Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, affected by the previously completed double top pattern, reminding you that our next target is located at 1.2460, while breaching 1.2590 will stop the negative scenario and push the price to recover again.
The expected trading range for today is between 1.2490 support and 1.2670 resistance.
The expected trend for today: Bearish
Origin: Economies
