The GBPUSD pair begins to test 1.2800 support line, waiting to break this level to confirm extending the bearish wave to reach 1.2636 on the near term basis, as the bearish trend scenario still valid as long as the price is below 1.2962.
The EMA50 supports the expected decline, noting that breaching 1.2962 will lead the price to achieve gains that start at 1.3100 followed by 1.3226.
Expected trading range for today is between 1.2720 support and 1.2900 resistance.
Expected trend for today: Bearish