The GBPUSD price rallied upwards strongly yesterday to breach the bearish channel’s resistance line followed by breaching 1.2415$ level and settle above it, to stop the negative scenario and return to the correctional bullish track again, and we suggest the continuation of the bullish bias to visit 1.2605$ as a next positive target.

 

Therefore, we expect to witness more rise in the upcoming sessions, supported by moving above the EMA50, noting that breaking 1.2350$ will stop the bullish wave and push the price to return to the main bearish channel again.

 

The expected trading range for today is between 1.2350$ support and 1.2510$ resistance

 

Trend forecast: Bullish