The GBPUSD forecast update 02-04-2024

Economies.com
2024-04-02 09:40AM UTC

GBPUSD Price Forecast

The GBPUSD price shows some bullish bias to test the key resistance 1.2580$, and as we mentioned this morning, the price needs to hold below this level to keep the bearish trend scenario active, affected by the head and shoulders’ pattern that appears on the chart, reminding you that our targets begin at 1.2480$ and extend to 1.2385$.

  • On the other hand, we should note that breaching 1.2580$ will stop the expected decline and push the price to build bullish wave on the intraday basis.

The expected trading range for today is between 1.2460$ support and 1.2600$ resistance.

Trend Forecast

Bearish

Forex and Currency News

Forex News

Forex

Fed Chair: Driving down inflation towards target could take longer than expected
2024-04-16 20:10PM UTC
Fed Chair Jerome Powell said in a symposium earlier today that inflation has stiffened and held in ...
Forex News

Forex

US retail sales beat expectations in March
2024-04-15 12:39PM UTC
US retail sales rose 0.7% in March, beating estimates of a 0.4% increase, while down from 0.9% in ...
EUR/USD news

Forex

Euro tries to recoup from five-month trough amid bearish outlook
2024-04-15 08:41AM UTC
Euro rose in European trade on Monday against a basket of major rivals amid attempts to recoup from ...

Forex Technical Analysis

GBP USD Analysis

Forex

The GBPUSD forecast update 16-04-2024
2024-04-16 09:48AM UTC
GBPUSD Price Forecast The GBPUSD price fluctuates positively now to head towards potential test ...
EUR USD Analysis

Forex

The EURUSD price forecast update - 16-04-2024
2024-04-16 09:48AM UTC
EURUSD Price Forecast The EURUSD price finds good support at 1.0600$ barrier, to show some ...
EUR GBP Analysis

Forex

The EURGBP tends to resume the decline – Forecast today – 16-4-2024
2024-04-16 05:51AM UTC
EURGBP Price Analysis Expected Scenario The EURGBP pair confirmed its affection by the ...