The GBPUSD forecast update 16-04-2024

Economies.com
2024-04-16 09:48AM UTC

GBPUSD Price Forecast

  • The GBPUSD price fluctuates positively now to head towards potential test to the key resistance 1.2480$, affected by the RSI positivity, waiting to get negative motive that assist to push the price to resume the correctional bearish trend, which its targets begin at 1.2385$ and extend to 1.2265$ in case breaking the previous level.
  • In general, we will continue to suggest the bearish trend for today unless breaching 1.2480$ and holding with a daily close above it.

The expected trading range for today is between 1.2335$ support and 1.2500$ resistance.

Trend forecast: Bearish

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