The GBPUSD price needs new positive motive - Forecast today - 06-05-2024
Economies.com
2024-05-06 04:08AM UTC
GBPUSD Price Analysis
Expected Scenarios
- The GBPUSD price settles around 1.2550$ level, waiting to resume the bullish wave to breach 1.2580$ and confirm the continuation of the rise to achieve new gains that reach 1.2700$, supported by the EMA50 that carries the price from below.
- Therefore, the bullish trend scenario will remain valid on the intraday basis, taking into consideration that breaking 1.2480$ will put the price under new negative pressures that target visiting 1.2385$ initially.
Trading Range for Today
- Support: 1.2480$
- Resistance: 1.2640$
Trend forecast: Bullish
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