The GBPUSD pair kept its stability above 1.2515 after the negative pressure that it witnessed yesterday, to resume the bullish track and approach 1.2600 barrier, to keep the positive effect of the inverted head and shoulders’ pattern active, waiting for more rise in the upcoming sessions to visit 1.2777 that represents our next main target.
The EMA50 supports the expected rise, noting that breaking 1.2515 will stop the positive scenario and press on the price to decline towards 1.2400 followed by 1.2304 areas on the near term basis.
The expected trading range for today is between 1.2490 support and 1.2660 resistance.
The expected trend for today: Bullish