GBPUSD Price Tests Resistance Again – Forecast for July 3, 2024

by Jennifer

GBPUSD Price Analysis

Current Scenario


The GBPUSD price is once again testing the critical resistance level at 1.2700$, prompting cautious trading considerations. Sustained consolidation below this level is necessary to uphold the bearish trend scenario, with an initial downside target set at 1.2580$.


Bearish Outlook

Intraday outlook continues to favor a bearish trend, contingent upon the GBPUSD price remaining below 1.2700$. However, a breakout above this level could trigger additional gains and establish a bullish momentum, targeting first at 1.2800$.

Expected Trading Range

  • Support: 1.2600$
  • Resistance: 1.2750$

Trend Forecast: Bearish

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