The GBPUSD price awaits more decline - Forecast today - 29-03-2024

Economies.com
2024-03-29 01:42AM UTC

GBPUSD Price Analysis

Expected Scenario: Bearish Trend

  • The GBPUSD price provided clear negative trades, approaching the awaited target at $1.2580.
  • It returns to fluctuate around the $1.2620 level, awaiting negative momentum to resume.
  • This would push the price to surpass the mentioned target and rally towards $1.2480 as the next target.
  • The EMA50 continues to support the suggested bearish wave.
  • This bearish scenario remains valid unless the price rallies to breach $1.2700 and holds above it.

Expected Trading Range for Today

  • Support: $1.2530
  • Resistance: $1.2690

Trend Forecast: Bearish

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