Market Analysis for GBPUSD Price
The GBPUSD price ended yesterday below the 1.2580$ level, indicating completion of forming a head and shoulders pattern with negative targets.
The Exponential Moving Average (EMA) 50 continues to exert downward pressure on the price, supporting the expected decline. However, breaching 1.2580$ will invalidate the negative pattern mentioned.
The expected trading range for today is between 1.2460$ support and 1.2600$ resistance.
Trend forecast: Bearish
Origin: Economies
