GBPUSD - Technical Analysis: Wednesday, 15/03/2017 09:08 GMT

The GBPUSD pair attempted to break the important support 1.2156 yesterday and returns to fluctuate around it, as the price found solid support formed by the correctional descending channel's support, which might force the price to test 1.2195 areas before attempt to break the mentioned level again.

Overall, the bearish trend still expected as long as the price is below 1.2261, noting that our main expected target is located at 1.1986.