The GBPUSD price resumes the decline - Forecast today - 16-04-2024
Economies.com
2024-04-16 03:56AM UTC
GBPUSD Price Analysis
- The GBPUSD price resumes its negative trading after testing the 1.2480$ level in the previous sessions, nearing our awaited target at 1.2385$. This level represents the 61.8% Fibonacci correction level for the rise measured from 1.2069$ to 1.2893$. Breaking this level will likely push the price to achieve additional negative targets, reaching 1.2265$.
- We continue to suggest a bearish trend for the upcoming period, emphasizing the importance of holding below 1.2480$ to reach the awaited targets.
The expected trading range for today is between the 1.2335$ support and 1.2500$ resistance.
Trend forecast: Bearish
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