The GBPSEK pair has recently exhibited a correctional bullish bias, leading to some gains with a move towards 13.4600. This shift has been influenced by conflicting signals from major indicators, creating obstacles for the previously proposed bearish outlook.
However, the presence of a significant resistance level around 13.5250 is a critical factor affirming the bearish scenario in upcoming trading sessions. It suggests the need to wait for additional negative momentum to accumulate, potentially leading to a decline below 13.2420 and a subsequent move towards the next support at 13.0220.
Today’s anticipated trading range is situated between 13.4850 as resistance and 13.2500 as support.
The expected trend for today remains bearish.