GBPUSD - OUTLOOK
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GBPUSD 4H NEW FORECAST
The GBPUSD price finds strong support at the 1.2480 level.
The 50 moving average forms negative pressure that supports the chances of continuing the expected downward trend for the coming period, whose next target reaches 1.2425 and 1.2385.
We expect the bearish intraday trend, keeping in mind that a breach of $1.2515 will stop the expected decline and lead the price to initially test the pivotal resistance of 1.2550.
Expected trading range
The expected trading range for today is between the support at 1.24800 and the resistance at 1.2550.
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