The GBPUSD pair has demonstrated a determined effort to recuperate from recent losses as it encountered a robust support level at 1.2625. This resurgence has led to a strong upward movement, propelling the pair to challenge the pivotal resistance at 1.2725. Notably, it is worth observing that the stochastic indicator is currently displaying signs of waning positive momentum. Concurrently, the EMA50 is exerting downward pressure on the price.
Given the prevailing conditions, the prospect of a resumption of negative trading activities in the upcoming sessions appears plausible. In this context, potential targets for such a scenario may include retesting the 1.2625 support level once again. It is pertinent to consider that a breach of the 1.2725 resistance level would nullify the bearish outlook and potentially usher in a reversal towards an upward trajectory.
For the trading day ahead, the anticipated range spans between the support level of 1.2620 and the resistance level of 1.2780. Consequently, the projected trend for the day leans towards a bearish sentiment.