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The GBPUSD price returns to the correctional bearish track - Forecast today - 11-04-2024
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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The EURUSD price surpasses the first target – Forecast today - 11-04-2024
Breaching 1.0765$ will halt the bearish wave and initiate price recovery attempts, targeting the testing of 1.0860$ areas initially.
MoreUpdate: The GBPUSD breaks the support
The GBPUSD pair bounced downwards strongly after finding solid resistance at 1.2700$, to break 1.2580$ and hint heading to achieve new bearish correction in the upcoming period, opening the way to target 1.2480$ areas as a next main station.
MoreUpdate: The EURUSD hits the target
The EURUSD pair declined strongly to succeed achieving our waited target at 1.0765$, noticing that the price presses on this level to confirm breaking it and attempts to hold below it, reinforcing the expectations of extend the bearish wave in the upcoming period, reminding you that our next target reaches 1.0645$, while holding below 1.0765$ represents initial condition to the continuation of the expected decline.
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