The GBPUSD pair shows more bullish bias to move gradually move away from the intraday bullish channel’s support line, getting continuous positive support by the EMA50, and we believe that the way is open to achieve our next main target at 1.2440.
Stochastic current negativity interprets the reasons of the slow bullish wave, waiting to get positive momentum to assist to continue the rise towards the mentioned target.
Holding above 1.2280 is important to continue the bullish trend, as breaking it will put the price under intraday negative pressure to achieve some bearish correction before turning back to rise again.
The expected trading range for today is between 1.2260 support and 1.2420 resistance.
The expected trend for today: Bullish
Origin: Economies
