The GBPUSD pair provided additional negative trades yesterday to approach our waited target at 1.2590, and by taking a deeper look at the chart, we find that the price is completing the formation of double top pattern now, thus, the chances valid to surpass the mentioned level and open the way to achieve additional negative targets that reach 1.2490.
Therefore, we expect to witness more decline on the intraday and short-term basis, taking into consideration that breaching 1.2720 will stop the negative scenario and push the price to regain the main bullish track again.
The expected trading range for today is between 1.2540 support and 1.2700 resistance.
The expected trend for today: Bearish
Origin: Economies
