The GBPUSD price returns to the correctional bearish track - Forecast today - 11-04-2024
Economies.com
2024-04-11 04:18AM UTC
GBPUSD Price Analysis
Expected Scenario
- The GBPUSD pair ended yesterday with strong negativity, breaking the 1.2580$ level and closing the daily candlestick below it.
- This confirms the return of bearish correction domination and indicates a move towards achieving negative targets starting at 1.2480$ and extending to 1.2385$ after breaking the previous level.
Expected Outcome
We expect to witness more decline in the upcoming sessions. Breaching 1.2580$ will halt the current negative pressure and lead the price to attempt to build a new bullish wave targeting 1.2700$ as a first positive station.
Expected Trading Range
Between 1.2450$ support and 1.2610$ resistance.
Trend Forecast: Bearish
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