GBPUSD Price Analysis
Outlook and Forecast for Current Trading Sessions
Expected Scenario
- GBPUSD price traded with clear negativity in the previous sessions, reaching 1.2480$ level
- Seems open to surpass this level and achieve more expected decline on the intraday basis
- Confirming the break will push the price towards 1.2385$ as a next negative target
- Expectation of witnessing more decline in upcoming sessions
- Failing to confirm breaking 1.2480$ will lead the price to rise again and head to test 1.2580$ initially
The GBPUSD price traded with clear negativity in the previous sessions, reaching the 1.2480$ level. It seems open to surpass this level and achieve more expected decline on the intraday basis. Confirming the break will push the price towards 1.2385$ as a next negative target. Therefore, we expect to witness more decline in the upcoming sessions. Failing to confirm breaking 1.2480$ will lead the price to rise again and head to test 1.2580$ initially.
Expected Trading Range
- Support: 1.2400$
- Resistance: 1.2550$
Trend Forecast: Bearish