The GBPSEK pair encountered robust upward momentum, signaling a resurgence in the corrective bullish movement and an examination of the pivotal resistance level at 14.0000. Should the price remain below this resistance, it could trigger a return to the bearish trajectory, leading to a potential accumulation of downward momentum and a descent towards the immediate support at 13.6680. A breach of this support might propel the price further downwards to around 13.5430, establishing it as the next significant target within the bearish trend.
On the flip side, a surge above the present resistance level, accompanied by a confirming positive closure, would signify a regained bullish bias, particularly as the price remains within the confines of a bullish channel. This development would suggest the formation of a robust bullish rally, potentially leading to target levels of 14.1000 and subsequently 14.3500.
The projected trading range for the current session is anticipated to span between 13.9776 and 13.6680, and the prevailing trend is expected to be influenced by bearish sentiments.