GBP/USD Analysis

[ArwaIbrahim]

The GBP/USD pair shows more bearish bias to surpass the 1.2100 barrier, reinforcing the expectations of continuing the bearish trend in the upcoming period, and the way is open to achieve our waited negative target at 1.2037, noting that breaking it will extend the bearish wave to reach 1.1930 areas on a near-term basis.

The EMA50 forms negative pressure that supports the continuation of the suggested bearish wave, which will remain valid conditioned by the price stability below 1.2110, as breaching this level represents a positive factor that will lead the price to recover again and head towards 1.2175, followed by 1.2297 as the main positive stations. The expected trading range for today is between 1.2190 support and 1.2140 resistance.