GBPUSD Price Tracks Narrowly – Forecast Today – 07-06-2024

by Daisy

The GBPUSD pair has been trading within a narrow range since yesterday, currently stabilizing around 1.2780$. The market is waiting for positive momentum to drive the price upward, with the next key target set at 1.2893$.

Given the current conditions, a bullish trend is expected on both intraday and short-term bases. However, it’s important to note that if the price falls below 1.2700$, it could signal the end of the bullish trend and a potential shift to a downward movement.


Expected Trading Range:

Support: 1.2730$


Resistance: 1.2890$

Trend Forecast: Bullish

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