Midday update for the GBPUSD 05-05-2022

8 months ago

The GBPUSD pair faces negative pressure to break 1.2570 level and attempts to hold below it, which urges caution from the upcoming trading, as confirming the break will stop the morning suggested correctional bullish scenario and press on the price to return to the main bearish track again, while the price needs to step above 1.2570 to resume the bullish wave that targets testing 1.2670 initially.


The expected trading range for today is between 1.2500 support and 1.2650 resistance.


The expected trend for today: Bullish

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