Expected scenario: The GBP-USD pair is witnessing a negative change in the general trend, after breaking the bullish channel, and the Pound failed to breach the resistance of 1.2490, to enter a short-term cross wave, which is expected to witness a shift To the downside, by breaking the 1.2300 support levels, to target the 1.2100 then 1.1970 levels.

Alternative scenario: As for the pair consolidating the above mentioned support levels at 1.2300, and stability above, we will witness more gains to re-test the 1.2490 areas again, and then the ability to determine the trend in the medium term.

Expected general direction: Downside

Expected traffic range: 1.2300 to 1.2170