The GBPUSD price declined strongly by today’s open to return to the main bearish channel, and we expect the continuation of the bearish bias in the upcoming session to visit 1.2100$ as a next main target.
Therefore, the bearish bias will be expected on the intraday and short-term basis, affected by the completion of the double top pattern that appears on the chart, noting that breaching 1.2360$ will stop the expected decline and lead the price to attempt to achieve additional bullish correction in the upcoming period.
The expected trading range for today is between 1.2170$ support and 1.2330$ resistance
Trend forecast: Bearish
Origin: Economies
