The GBPUSD declined in its recent intraday trading, in a correctional move that targets catching breaths after an intraday bullish wave, the price attempts to offload the clear overbought condition in the (RSI), easing the way for regaining its positive momentum.

This move comes amid the continuation of the trading above EMA50, which reinforces the chances for its recovery again in its upcoming moves.

Therefore, our expectations suggest the GBPUSD price rise in its upcoming intraday trading, if the price settled at 1.3250 support, to target the key resistance at 1.3420.

The expected trading range is between 1.3250 support and 1.3420 resistance.

Todays forecast: Bullish

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