GBP/USD Price Rises Calmly – Forecast for July 5, 2024

by Jennifer

GBP/USD Price Analysis

Expected Scenario


The GBP/USD price continues its gradual ascent, nearing our initial target at $1.2800 and poised for further gains towards the $1.2890 area as the next major level. This suggests a continuation of the bullish trend in the upcoming period.


Supporting Factors

The slow bullish momentum is attributed to RSI (Relative Strength Index) negativity. It’s important to note that breaking below $1.2700 would halt the expected rise and potentially redirect the price towards a corrective bearish trajectory.

Expected Trading Range

Today’s anticipated trading range for GBP/USD is between the $1.2700 support level and the $1.2860 resistance level.

Trend Forecast

The trend forecast for GBP/USD remains bullish.

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