The GBPUSD price traded positively in the previous sessions to breach the initial resistance 1.2566$ and approaches retesting the broken neckline of the head and shoulders’ pattern at 1.2605$, and as we mentioned in our recent reports, the price needs to hold below this level to keep the bearish trend active for the upcoming period, as breaching it will lead the price to turn to rise and build bullish wave that targets 1.2735$ areas initially.
The EMA50 supports the expected decline, which its next main target reaches 1.2400$.
The expected trading range for today is between 1.2490$ support and 1.2630$ resistance
Trend forecast: Bearish
