The GBPUSD price crawls downwards - Forecast today - 19-03-2024

The GBPUSD price resumes its negative trading calmly to reach 1.2700 barrier, waiting for more decline to test the key support that rises now to 1.2675, being aware that we need to monitor the price at this level due to its importance to detect the next trend, as breaking it represents the key to extend the bearish wave to reach 1.2600 areas as a next negative station, while consolidating above it will lead the price to attempt to regain the main bullish trend again.

On the other hand, we should note that breaching 1.2815 will stop the expected decline and push the price to return to rise without the need to the suggested decline.

The expected trading range for today is between 1.2630 support and 1.2790 resistance.

Trend forecast: Bearish