The GBPUSD pair provided negative trades yesterday to test the bullish channel’s support line that appears on the chart, accompanied by stochastic reach to the oversold areas, while the EMA50 provides the positive support to the price.
Therefore, we believe that the chances are valid to rebound bullishly and resume the main bullish trend, which targets 1.2520 level initially, noting that breaking 1.2400 will press on the price to start correctional bearish wave on the intraday basis.
The expected trading range for today is between 1.2330 support and 1.2520 resistance.
The expected trend for today: Bullish