The GBP/USD pair is showing a bullish bias as it tests the 50-period Exponential Moving Average (EMA), which is acting as a strong resistance level. The pair is expected to resume its bearish trend if it breaks below the $1.2866 support, potentially extending the corrective move towards the $1.2735 level.
The bearish outlook will remain intact unless the price breaks above $1.3000 and sustains above that level.
For today, the expected trading range is between support at $1.2820 and resistance at $1.2980.
Trend Outlook: Bearish
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