GBPUSD rallied sharply after reaching our first target at 1.2847, breaking through the 1.2927 level and settling above it, signaling signs of an attempt to retrace the bullish trend, but colliding with strong resistance from the previously breached support of the rising channel at 1.2950.
Therefore, we would prefer to remain neutral until the price breached one of the pivotal levels of support 1.2927 and resistance at 1.2950, as breaching this resistance will confirm a return to the upside and achieve targets starting at 1.3007 and extending to 1.3106, while breaking the support will pressure the price to target 1.2847 then 1.2748 in the near term.
The trading range for today is expected among 1.2847 support and 1.3050 support
The expected general trend for today: Depends on the levels mentioned in the report