The GBPUSD price tested 1.2566$ level and bounced bearishly from there after this level consolidated well against the positive attempts, to head towards resuming the main bearish wave within the bearish channel that appears on the chart, on its way to visit 1.2400$ that represents our next main target.
Moving below the EMA50 supports the suggested negative scenario, which will remain valid unless the price rallied to breach 1.2566$ followed by 1.2585$ levels and holding above them.
The expected trading range for today is between 1.2400$ support and 1.2555$ resistance
Trend forecast: Bearish
