Currency pair analysis: GBP/USD

The pound sterling against the dollar fell strongly last Friday, breaking the 1.3720 level and reaching the first negative target at 1.3665. The price completed forming a double top pattern that supports the chances of achieving a more expected decline in the upcoming sessions, to surpass the current level and reach 1.3605 as a next target.

Therefore, we expect the price to witness additional negative trades today, supported by the move below the EMA50, taking into consideration that breaching 1.3720 will stop the current negative pressure and lead the price to attempt a recovery.

 The expected trading range for today: between the 1.3580 support and the 1.3750 resistance

 The forecast general trend for today: bearish