The GBPUSD pair found solid support at the neckline of the double top pattern mentioned yesterday, to show some temporary bullish bias, noticing that stochastic shows clear overbought signals now, to support the chances of bouncing bearishly and resume the negative trades that target testing 1.2590 areas initially, reminding you that the completion of the negative pattern will extend the bearish wave to reach 1.2490 areas on the near-term basis.
Therefore, the bearish trend scenario will remain suggested for the upcoming period unless breaching 1.2720 and holding with a daily close above it.
The expected trading range for today is between 1.2600 support and 1.2740 resistance.
The expected trend for today: Bearish
Origin: Economies
