GBPUSD faces solid resistance – Analysis - 23-08-2018

The GBPUSD pair found difficulty to surpass the bearish channel’s resistance that appears on the chart, to rebound bearishly and hint the return to the domination of the bearish trend on the intraday and short term trades, supported by stochastic negativity.

Therefore, the bearish bias will be suggested in the upcoming sessions, noting that breaking 1.2810 will ease the mission of targeting 1.2636 level that represents the next negative target, while the expected decline will remain valid unless breaching 1.2915 followed by 1.2963 levels and holding above them.

Expected trading range for today is between 1.2760 support and 1.2960 resistance.

Expected trend for today: Bearish