The GBPUSD price tests the resistance - Forecast today - 18-04-2024
Economies.com
2024-04-18 04:00AM UTC
Price Analysis: GBPUSD
Expected Scenario
- The GBPUSD price returns to rise, approaching the 1.2480$ resistance line. The positive effect of the Relative Strength Index (RSI) persists, while the Exponential Moving Average 50 (EMA50) exerts continuous negative pressure against the price, keeping the chances valid to continue the correctional bearish trend, with its next target located at 1.2385$.
- Maintaining the bearish overview is conditioned by the price's stability below 1.2480$. Breaching this level will push the price to attempt to regain the main bullish trend.
Expected Outcome
The expected trading range for today is between 1.2380$ support and 1.2540$ resistance.
Trend Forecast: Bearish
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