The GBPUSD price faces solid support - Forecast today - 10-05-2024
Economies.com
2024-05-10 03:56AM UTC
GBPUSD Price Analysis
Expected Scenario
The GBPUSD price couldn’t manage to hold for a long time below 1.2480$, trading positively and testing the EMA50. However, the RSI begins to lose positive momentum gradually.
Therefore, we believe that there are valid chances to resume the expected bearish wave on the intraday basis. The targets for this wave begin by breaking 1.2480$ to open the way to visit 1.2385$. It's important to consider that breaching 1.2580$ will stop the bearish wave and lead the price to achieve more gains, reaching 1.2700$ areas on the near-term basis.
Expected Trading Range for Today
Between the support at 1.2430$ and the resistance at 1.2590$
Trend Forecast: Bearish
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