The GBPUSD pair shows some bullish bias affected by stochastic positivity, to approach from testing the first critical resistance at 1.2230, as we mentioned this morning, holding below this level and below 1.2339 represents the condition of the expected bearish trend scenario continuation on the intraday and short term basis, which gets good support from the EMA50.
Therefore, our bearish trend expectations will remain valid until now, reminding you that our next main target located at 1.1997.
Expected trading range for today is between 1.2000 support and 1.2230 resistance.
Expected trend for today: Bearish