GBPUSD is still moving in a bearish bias today. The price is stuck in the support area, still moving below 50 and 100 EMAs on the H1 chart. Overbought stochastic on 1 hour chart.
For alternative trading strategies based on forex technical analysis today we can look for sell signal confirmation if there is a correction to the area of 1.29925-1.30347. The target potential is up to the range 1.29665-1.29244.
If the price breaks below 1.29244, sterling weakness is likely to continue to the range 1.28823-1.28352.
Be careful if the price breaks above 1.30347 because it has the potential to frustrate this bearish scenario.
Alternative strategies:
A bullish opportunity will appear if the price breaks above 1.30347, with the potential for sterling to strengthen to the range 1.30607-1.31028. If you want to open a buy position, make sure the breakout is valid.