The GBPUSD price tests the resistance - Forecast today - 18-04-2024
Economies.com
2024-04-18 04:00AM UTC
Price Analysis: GBPUSD
Expected Scenario
- The GBPUSD price returns to rise, approaching the 1.2480$ resistance line. The positive effect of the Relative Strength Index (RSI) persists, while the Exponential Moving Average 50 (EMA50) exerts continuous negative pressure against the price, keeping the chances valid to continue the correctional bearish trend, with its next target located at 1.2385$.
- Maintaining the bearish overview is conditioned by the price's stability below 1.2480$. Breaching this level will push the price to attempt to regain the main bullish trend.
Expected Outcome
The expected trading range for today is between 1.2380$ support and 1.2540$ resistance.
Trend Forecast: Bearish
Forex and Currency News
Forex
Dollar parks at two-week highs ahead of Fed decisions
2024-05-01 11:37AM UTC
The dollar rose in European trade on Wednesday against a basket of major rivals, extending gains ...
Forex
Kiwi plumbs two-week trough after disappointing labor data
2024-05-01 05:03AM UTC
The New Zealand dollar fell in Asian trade on Wednesday against a basket of major rivals, ...
Forex
Dollar climbs ahead of crucial US data
2024-04-30 11:33AM UTC
The dollar rose in European trade on Tuesday against a basket of major rivals away from two-week ...
Forex Technical Analysis
Forex
The EURGBP tests key support – Forecast today – 2-5-2024
2024-05-02 08:15AM UTC
Expected Scenarios The EURGBP price formed many bearish trades recently, to test 38.2% ...
Forex
The EURJPY tests the major support – Forecast today – 2-5-2024
2024-05-02 08:09AM UTC
Expected Scenarios The EURJPY pair activated the profit gaining process yesterday by forming ...
Forex
The GBPJPY approaches the bullish channel’s support line – Forecast today – 2-5-2024
2024-05-02 08:08AM UTC
Expected Scenarios The GBPJPY pair faced strong negative pressures yesterday that pushed it to ...