The GBPUSD forecast update 23-05-2024

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price shows calm bullish bias in attempt to move away from 1.2700$ level, to keep the bullish trend scenario valid for today.
• Affected by the previously completed double bottom pattern, supported by the EMA50, waiting to test 1.2800$ as a next main target, reminding you that the continuation of the bullish wave depends on the price stability above 1.2700$.

Expected Trading Range

Between 1.2660$ support and 1.2800$ resistance.