The GBPUSD price awaits to confirm the break - Forecast today

GBPUSD Price Analysis

Forecasts and Analysis
The GBPUSD price has found solid support at 1.2480$, resulting in temporary bullish bias.
However, the EMA50 is exerting negative pressure, supporting expectations for the continuation of the bearish trend.
The next target for the bearish trend is 1.2385$.
We maintain our suggestion of an intraday bearish trend, with a note that breaching 1.2515$ will invalidate the expected decline and lead to a test of the key resistance at 1.2580$.
Expected Trading Range
The expected trading range for today is between 1.2400$ support and 1.2550$ resistance.

Trend Forecast: Bearish

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