The GBPUSD price touches the target - Forecast today - 01-05-2024
Economies.com
2024-05-01 03:46AM UTC
GBPUSD Price Analysis
Expected Scenario
- The GBPUSD price managed to touch our waited target at 1.2480$ and presses negatively on it, moving below the EMA50 to fall under negative pressure that supports the chances of breaking the mentioned level and pave the way to achieve more decline in the upcoming sessions, reminding you that the next station reaches 1.2385$.
- Therefore, the bearish trend will remain suggested for the upcoming period, taking into consideration that failing to achieve the required break will lead the price to start recovery attempts that target visiting 1.2580$ initially.
Expected Trading Range
Between 1.2390$ support and 1.2550$ resistance.
Trend Forecast: Bearish
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