The GBPUSD pair started today with clear negativity to break 1.2720 level and head towards starting bearish correction for the rise that started from 1.2069 areas, on its way to test 23.6% Fibonacci correction level at 1.2650 initially, noting that breaking this level will push the price to target 1.2540 areas as a next main station.
Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 1.2725 will stop the current negative pressure and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 1.2600 support and 1.2730 resistance.
The expected trend for today: Bearish
Origin: Economies
