GBPUSD - Technical Analysis: Wednesday, 21/06/2017 08:27 GMT

The GBPUSD pair broke 1.2688 level strongly and settled below it, to open the door to extend the correctional bearish wave on the intraday basis, and the price moves near 50% Fibonacci level at 1.2577, forming the first target of the current decline.

Thus, the bearish trend will be expected for the coming period unless the price managed to rally to the upside to surpass 1.2688 level and settle above it, noting that breaking 1.2577 will extend the correctional bearish wave to reach 1.2466.