The GBPUSD price bounced bearishly after retesting the broken neckline of the head and shoulders’ pattern, to resume the expected bearish trend on the intraday and short-term basis, on its way to achieve negative targets that reach 1.2400$.
Therefore, we are waiting for more expected decline in the upcoming period, noting that breaching 1.2605$ will push the price to turn to rise and build bullish wave that targets 1.2735$ initially.
The expected trading range for today is between 1.2450$ support and 1.2590$ resistance
Trend forecast: Bearish
Origin: Economies
