The GBPUSD achieves clear gains - Analysis - 06-06-2023

The GBPUSD pair ended yesterday with clear positivity, to test 1.2440 level, noticing that stochastic lost its positive momentum to enter the overbought areas, waiting to motivate the price to resume the negative trades and head to test 1.2345 initially, reminding you that breaking this level will confirm extending the bearish correction to reach 1.2240 areas.

Therefore, we will continue to suggest the bearish trend for the upcoming period, which depends on the price stability below 1.2470, as breaching this level will stop the correctional bearish scenario and push the price to regain the main bullish trend again.

The expected trading range for today is between 1.2345 support and 1.2500 resistance.

The expected trend for today: Bearish