The GBP/USD pair continues its downward trajectory, attempting to break the key support level of $1.2566. This movement strengthens expectations of a sustained bearish trend in the coming sessions, setting the stage for a potential decline toward the primary target of $1.2465.
Bearish Outlook Remains Firm
The bearish forecast remains in place for today, as long as the price stays below $1.2620. A breach of this level would negate the current downward pressure, potentially triggering a recovery and opening the way for a move toward $1.2730 in the near term.
Trading Range and Trend
Expected Trading Range: Between $1.2490 (support) and $1.2660 (resistance).
Trend Forecast: Bearish.
Traders should watch the $1.2566 level for signs of continued weakness while staying cautious of a potential reversal if $1.2620 is breached.
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