The GBPUSD forecast update 08-05-2024
Economies.com
2024-05-08 09:36AM UTC
GBPUSD Price Analysis
Expected Scenario
- The GBPUSD price achieved initial break to 1.2480$ level.
- Closed the last four hours’ candlestick below it, reinforcing the expectations of continuing the bearish trend for today.
- Paving the way to head towards 1.2385$ that represents our next target.
- Trading above 1.2480$ again and consolidating above it will push the price to attempt to recover and visit 1.2580$ as a first positive station.
Expected Trading Range
Between 1.2400$ support and 1.2550$ resistance.
Trend Forecast: Bearish
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