GBPUSD Price Analysis
Expected Scenario
The GBPUSD price approached the 1.2700$ level and bounced bearishly to test the EMA50 that forms intraday support at 1.2625$. The price needs to consolidate above this level as a first condition for the continuation of the expected bullish trend on the intraday basis. Breaching 1.2700$ will extend the bullish wave to reach 1.2800$.
RSI interprets the reasons for the current decline, noting that breaking 1.2625$ followed by 1.2580$ levels will stop the bullish trend and put the price under the correctional bearish pressure again.
Expected Trading Range
Between 1.2570$ support and 1.2730$ resistance.
Trend Forecast: Bullish
Origin: Economies
