GBPUSD Price Confirms the Breach – Forecast for Today, July 4, 2024

by Jennifer

GBPUSD Price Analysis

Expected Scenario


The GBPUSD price has confirmed a breakout above the $1.2700 level, closing yesterday’s trading session above this key level. This supports expectations for a bullish reversal and the formation of an upward wave targeting levels around $1.2800 and then $1.2890, primarily bolstered by its position above the 50-period moving average.


While there are negative signals from the Relative Strength Index (RSI), indicating potential for sideways movement, the overall outlook favors continued upward momentum. It is important to note that a break below $1.2700 could halt the bullish wave and introduce renewed corrective downward pressure.

Expected Trading Range

Support: $1.2660

Resistance: $1.2835

Trend Forecast: Bullish

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