The GBPUSD pair faced negative pressure yesterday to test the key support 1.2720, noticing that the price consolidates above it, accompanied by witnessing clear oversold signals through stochastic, noticing that the EMA50 meets the mentioned support to add more strength to it.
Therefore, we believe that the chances valid to resume the main bullish trend now, waiting to head towards 1.2880 as a next positive station, taking into consideration that breaking 1.2720 followed by 1.2690 levels will stop the expected rise and push the price to start bearish correction on the intraday basis.
The expected trading range for today is between 1.2670 support and 1.2820 resistance.
The expected trend for today: Bullish
Origin: Economies
