Lately, the GBP/USD pair has shown a negative trend, aiming for the 1.2370 level while trying to surpass it, which indicates a possible progression towards more bearish correctional goals. If a confirmed breakthrough occurs, the price is expected to reach 1.2262 as the following downward target.

Consequently, a bearish perspective is proposed for today, reinforced by the descending pressure applied by the 50-day EMA. Nevertheless, if the required breakthrough does not materialize and the 1.2430 level is surpassed, the predicted decline will be stopped, prompting the price to revert to the main bullish trend.

The anticipated trading range for today is between the 1.2350 support and the 1.2550 resistance levels.

 GBP/USD Price Chart - Source: Tradingview

(GBP/USD) Trade Idea

Entry Price – Buy Above 1.2425

Stop Loss – 1.23512

Take Profit – 1.25475

Risk to Reward – 1 : 1.6

Profit & Loss Per Standard Lot = +$1,220/ -$730

Profit & Loss Per Micro Lot = +$122/ -$73



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