The GBPUSD pair shows some bearish bias to approach testing the support base formed above 1.2515, and the price gets positive support by the EMA50, waiting to rebound bullishly to resume the expected bullish trend for today, affected by the inverted head and shoulders’ pattern, which its next target located at 1.2777.
On the other hand, we should note that breaking 1.2515 and holding below it will press on the price to decline again and head towards 1.2304 areas on the near term basis.
The expected trading range for today is between 1.2480 support and 1.2660 resistance.
The expected trend for today: Bullish