The GBPUSD pair shows some slight bullish bias to approach 1.2962 level, noticing that the EMA50 forms continuous negative pressure on the price, while stochastic begins to provide negative overlapping signal on the four hours’ time frame.
Therefore, we believe that the chances are valid to resume the expected bearish trend on the intraday and short term basis, which targets 1.2800 level mainly, while the suggested decline will remain valid unless breaching 1.2962 followed by 1.3000 levels and holding above them.
The expected trading range for today is between 1.2830 support and 1.3000 resistance.
The expected trend for today: Bearish