3
GBP/USD is currently fluctuating around the 1.2735 level, awaiting a negative catalyst to break this level and confirm the continuation of the bearish trend in the near term. The next downside target is seen at 1.2665.
The 50-day exponential moving average (EMA50) continues to support the bearish outlook, reinforcing expectations for further downside movement. However, if the required break below 1.2735 fails to materialize, the pair may see a short-term rise, potentially testing 1.2866.
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The expected trading range for today is between support at 1.2665 and resistance at 1.2830.
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Trend Forecast: Bearish
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