The GBPUSD pair hovers around 1.2900 level now, noticing that stochastic loses its positive momentum gradually, waiting to motivate the price to resume the expected bearish trend on the intraday and short term basis, which its next target located at 1.2800.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions conditioned by the price stability below 1.2962, noting that the EMA50 forms negative pressure to support the expected decline.
The expected trading range for today is between 1.2800 support and 1.2960 resistance.
The expected trend for today: Bearish