The GBPUSD pair traded with clear negativity yesterday after testing the key resistance 1.2962, to approach the neckline of the head and shoulders’ pattern at 1.2830 now, as the price needs to break this level to activate the negative effect of the mentioned pattern followed by rallying towards our next negative target at 1.2636.
Therefore, we will continue to suggest the bearish trend for today unless the price rallied to breach 1.2962 and hold above it.
The expected trading range for today is between 1.2750 support and 1.2930 resistance.
The expected trend for today: Bearish