The GBPUSD pair closed yesterday’s trading few pips above 1.6000 level, and it begins today’s trading with more bearish bias to move below the mentioned level, providing signals for a potential turn in the intraday trend to the downside, which makes the price continue the bearish correction which its next main target located at 1.5720.
Now, we prefer staying aside temporarily in order to monitor the daily close according to 1.6000 level, where holding below it will confirm targeting the aforementioned correction level, while the return above it will allow the GBPUSD price to regain the bullish trend again, which its targets begin at 1.6100 and extend to 1.6300.
Expected trading range for today is between: 1.5875 support and 1.6100 resistance.
Expected trend for today: Neutral