The GBPUSD price is recovering - Forecast today - 02-05-2024
Economies.com
2024-05-02 04:02AM UTC
GBPUSD Price Analysis
Expected Scenario
- The GBPUSD price trades with clear positivity after consolidating above the 1.2480$ level, heading towards a potential test of the 1.2580$ level.
- We suggest the continuation of the bullish bias on the intraday basis to surpass this level and achieve additional gains up to 1.2700$.
- The EMA50 supports the suggested bullish wave. However, breaking below 1.2480$ will stop the expected rise and push the price to turn to decline.
Expected Trading Range
Between the support at 1.2460$ and the resistance at 1.2630$.
Trend Forecast: Bullish
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