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GBP/USD remains below the 1.2566 level, keeping the bearish trend intact for the upcoming sessions. The price is under negative pressure, influenced by the 50-period Exponential Moving Average (EMA). The initial target for the bearish move is 1.2465, with a potential extension to 1.2400 if the previous level is broken.
The bearish channel continues to guide the expected downward movement, which will remain in play unless the price breaks above 1.2566 and sustains trading above this level.
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The expected trading range for today is between 1.2450 (support) and 1.2600 (resistance).
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Trend Outlook: Bearish
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