The GBP/USD pair touched the 1.3355 level and rebounded significantly to make some bullish correction for the decline that started from 1.3834 areas. EMA50 forms continuous negative pressure in front of the price, while the stochastic indicator is showing clear negative signs now.
Thus, we believe that resumption of the main bearish trend is likely, whose next target is at 1.3160. However, we need to take into account that breaching 1.3470 will push the price to make more bullish correction and visit the 1.3540 areas, and it might extend to 1.3595 before any new negative attempt.
The expected trading range for today: between the 1.3340 support and the 1.3500 resistance
The forecast general trend for today: bearish