The GBPUSD pair ended yesterday’s trading below 1.2636 level, stopping the suggested positive scenario in our last reports and puts the price under potential negative pressure in the upcoming period, to reactivate the bearish trend scenario on the short term basis.
Stochastic provides negative overlapping signal now, motivating the price to achieve more of the downside moves for today, which makes the bearish bias preferred unless breaching 1.2636 and holding above it again, pointing that our initial negative target is located at 1.2500.
Expected trading range for today is between 1.2500 support and 1.2700 resistance.
Expected trend for today: Bearish