GBPUSD Price Analysis The GBPUSD price retested the broken neckline of the double top pattern and bounced bearishly from there, to keep the negative effect of this pattern active, waiting for more decline in the upcoming sessions, noting that our targets begin by breaking 1.2580$ to open the way to head towards 1.2480$.

The EMA50 supports the suggested bearish wave, while breaching 1.2700$ will stop the expected decline and lead the price to attempt to regain the main bullish trend again. The expected trading range for today is between 1.2540$ support and 1.2690$ resistance.

Trend forecast: Bearish