The GBPUSD forecast update 24-05-2024

Economies.com
2024-05-24 09:12AM UTC

GBPUSD Price Analysis

Expected Scenario

  • The GBPUSD price trades positively to attempt to breach 1.2700$ level, and as we mentioned this morning, the price needs to hold below this level to keep the bearish trend active for today, which targets 1.2630$ followed by 1.2580$ levels mainly.
  • On the other hand, we should note that confirming breaching 1.2700$ will stop the expected decline and push the price to turn to rise.

Expected Trading Range

Between 1.2610$ support and 1.2750$ resistance.

Trend Forecast: Bearish

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