The GBPUSD price shows negative trades to head towards testing the key support 1.2385$, which represents one of the next trend keys, and as we mentioned this morning, the price needs to break this support or breach 1.2480$ resistance to detect its next destination clearly, which keeps our neutrality valid until now.

To review the details of the expected targets after breaching the mentioned levels, please check our morning report.

The expected trading range for today is between 1.2370$ support and 1.2540$ resistance.

Trend forecast: Neutral

Analysis of Expected Scenarios

• The EURUSD price begins to rebound bearishly after testing 1.0715$ level in the previous sessions, to support the continuation of the expected bearish trend for today, motivated by the negative overlapping signal provided by stochastic, reminding you that our next target is located at 1.0615$.
• Note that breaking the mentioned level will extend the bearish wave to reach 1.0520$ as a next negative station, while the expected decline will remain valid unless breaching 1.0715$ and holding above it.

The expected trading range for today is between 1.0620$ support and 1.0770$ resistance.

Trend forecast: Bearish