The GBPUSD forecast update 01-05-2024
Economies.com
2024-05-01 10:07AM UTC
GBPUSD Price Analysis: Expected Scenarios
The GBPUSD price attempted to break 1.2480$ level but it finds solid support there, waiting to get negative motive that assist to push the price to confirm the break and open the way to head towards 1.2385$.
- Bearish trend scenario
In general, the bearish trend scenario will remain dominant in the upcoming period unless the price rallied to breach 1.2580$ and hold above it.
- Bearish trend continuation
The expected trading range for today is between 1.2390$ support and 1.2550$ resistance.
Trend forecast: Bearish
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