The GBPUSD attempts to consolidate positively - Analysis - 01-02-2023

The GBPUSD pair shows weak trades after breaking 1.2320 level, as its still below it, while stochastic provides positive signals that might assist to push the price back to the bullish track again, to face contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend.

Note that breaking 1.2285 will push the price to achieve more decline and head towards 1.2155 followed by 1.1940 levels as next negative targets, while breaching 1.2320 represents the key to return to the bullish trend and head to visit 1.2440 initially.

The expected trading range for today is between 1.2210 support and 1.2410 resistance.

The expected trend for today: Neutral