The GBPUSD pair broke 1.2135 level clearly yesterday and settled below it, to pave the way to achieve more bearish correction in the upcoming period, but we notice that the price is recovering by today’s open and attempts to trade above the mentioned level, affected by stochastic positivity, to face contradiction between the technical factors that makes us prefer to stay aside until the price confirms its situation according to the mentioned level.
Note that consolidating below 1.2135 will put the price under additional negative pressure that its next target reaches 1.1950, while stepping above it will reactivate the main bullish wave and open the way to achieve positive targets tat start at 1.2330 and extend to 1.2440.
The expected trading range for today is between 1.2050 support and 1.2230 resistance.
The expected trend for today: Neutral
Origin: Economies
