The GBPUSD price keeps its negative stability - Forecast today - 12-04-2024

GBPUSD Pair Analysis

Expected Scenario

• The GBPUSD pair tested the key resistance at 1.2580$ and bounced bearishly from there, indicating the continuation of the bearish trend for the upcoming period.
• The next negative target is the 50% Fibonacci correction level at 1.2480$.
• Moving below the EMA50 supports the continuation of the suggested bearish wave.
• Breaking the targeted level will extend the bearish wave to reach 1.2385$ as the next correctional level.
• The expected decline will remain valid unless breaching 1.2580$ and holding above it.

The expected trading range for today is between 1.2465$ support and 1.2610$ resistance.

Trend Forecast

Bearish