The GBPUSD pair continues to decline gradually to move below 1.2200 barrier now, which supports the continuation of the decline in the upcoming period, which depends on the stability below 1.2340 level, reminding you that the next target is represented by testing the psychological barrier at 1.2000.
The EMA50 supports the suggested decline, while stochastic loses its positive momentum gradually to support the negative overview, being aware that breaching 1.2340 level will stop the suggested decline and lead the price to start some bullish correction that its targets begin at 1.2550 and might extend to 1.2720.
Expected trading range for today is between 1.2050 support and 1.2300 resistance.
Expected trend for today: Bearish