The GBPUSD price breached the bearish channel’s resistance line strongly to head towards resuming the main bullish trend, on its way to achieve positive targets that start at 1.2880$ and extend to test 1.3000$ barrier mainly.
Therefore, we expect to witness more rise in the upcoming sessions, supported by moving above the EMA50, noting that breaking 1.2745$ followed by 1.2695$ levels will stop the suggested bullish trend and push the price to start bearish correction on the intraday basis.
The expected trading range for today is between 1.2730$ support and 1.2880$ resistance.
Trend forecast: Bullish
Origin: Economies
