The GBPUSD pair touched 1.3355 level and bounced upwards clearly to achieve some bullish correction for the decline that started from 1.3834 areas, noticing that the EMA50 forms continuous negative pressure against the price, while stochastic shows clear negative signals now.
Therefore, we believe that the chances valid to resume the main bearish trend, which its next target extends to 1.3160, taking into consideration that breaching 1.3470 will push the price to achieve more bullish correction and visit 1.3540 and might extend to 1.3595 areas before any new negative attempt.
The expected trading range for today is between 1.3340 support and 1.3500 resistance.
The expected trend for today: Bearish
Origin: Economies
