The GBPUSD pair managed to achieve our first negative target at 1.2490 and settles there, waiting for more decline to visit 1.2425 that represents our next negative target.

Note that there is potential double top pattern under construction now, its completion will press on the price to surpass the last level and suffer additional losses that reach 1.2270.

In general, the bearish trend scenario will remain active unless the price rallied to breach 1.2590 and hold above it.

The expected trading range for today is between 1.2400 support and 1.2550 resistance.

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The expected trend for today: Bearish

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Indices

	Symbol	Last	Change	Chg.%
	EUR/USD	1.0183	-0.0065	0.6318%
The EURUSD gets the positive momentum – Analysis - 08-08-2022
	GBP/USD	1.2075	-0.0175	1.4249%

	Silver	19.913	-0.383	1.887%

	Oil	89.461	-4.203	4.487%
Crude oil price resumes the decline – Analysis - 08-08-2022
	Brent Oil	94.92	0.80	0.85%

	Gold	1773.495	3.195	0.180%
Gold price leans on the channel’s support line – Analysis - 08-08-2022

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