The GBPUSD pair rallied upwards strongly yesterday to breach 1.2800 level and approaches the key resistance 1.2962, but it rebounds bearishly to hint the price head to resume the main bearish trend, supported by the negative pressure formed by the EMA50.
Holding below 1.2962 keeps the overall bearish trend scenario valid for the upcoming period, as breaching it will push the price to turn to rise and achieve gains that reach 1.3226 on the near term basis, while the next main target of the expected bearish wave is located at 1.2636.
Expected trading range for today is between 1.2770 support and 1.2962 resistance.
Expected trend for today: Overall Bearish