Midday update for the GBPUSD 25-01-2023

The GBPUSD pair faces new negative pressure to break 1.2320 and attempts to hold below it, which hints heading to start intraday bearish correction, and we prefer to stay aside until the price confirms its situation according to the mentioned level, as confirming the break will push the price to achieve negative targets that start at 1.2160, while stepping above it again will revive the positive scenario that its first target located at 1.2440.

The expected trading range for today is between 1.2230 support and 1.2400 resistance.

The expected trend for today: Neutral