The GBPUSD resumes the bearish track - Analysis - 06-05-2022

The GBPUSD pair ended yesterday with more decline to settle below 1.2410 level, reinforcing the expectations of resuming the main bearish trend, moving within new bearish channel that supports the chances of heading towards 1.2300 that represents our next negative target.

Therefore, the bearish bias will be suggested in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish wave requires holding below 1.2410 and the most important below 1.2490.

The expected trading range for today is between 1.2270 support and 1.2450 resistance.

The expected trend for today: Bearish