The GBP/USD declines again – Analysis – 03/05/2022

gbp2The GBPUSD pair faced negative pressure yesterday to break 1.2540 level and settles below it, which pushes the price to resume the main bearish wave, on its way to achieve negative targets that start at 1.2410 and extend to 1.2300.

Therefore, we expect to witness more expected decline in the upcoming sessions unless the price rallied to breach 1.2570 and hold above it.

The expected trading range for today is between 1.2430 support and 1.2590 resistance.

The expected trend for today: Bearish

Origin: Economies

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