The GBPUSD price provided new strong negative trades to surpass 1.2200$ barrier and open the way to continue the decline on the short-term and medium-term basis, organized inside the bearish channel that appears on the chart, noting that we are waiting to visit 1.2115$ followed by 1.2065$ levels as next main targets.
Holding below 1.2300$ is important to the continuation of the expected decline, as breaching it might push the price to build intraday bullish wave that targets testing the bearish channel’s resistance line around 1.2515$ before any new negative attempt.
The expected trading range for today is between 1.2090$ support and 1.2250$ resistance
Trend forecast: Bearish
