The GBP/USD price has continued to decline, breaking the intraday bullish trend line and heading towards an expected decline in the upcoming sessions. The initial target is set at $1.2890, with further bearish bias potentially pushing the price towards the bullish channel’s support line around $1.2705.
As a result, the bearish trend is expected to dominate on an intraday basis. However, breaching the $1.2990 level would halt the negative scenario and push the price to resume the main bullish trend.
The expected trading range for today is between the support level of $1.2850 and the resistance level of $1.3000.
Trend Forecast: Bearish
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