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GBPUSD Price Shows Strong Bullish Momentum – Forecast for July 11, 2024

Yesterday, the GBPUSD price surged upwards strongly, confirming the completion of the bullish flag pattern highlighted in our previous report. This bullish move approached and aims to surpass the awaited target at 1.2890$. The forecast suggests a continuation of this bullish bias, potentially targeting the 1.3000$ barrier as the next significant level.

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Supporting this upward momentum is the EMA50, which continues to provide crucial support from below, reinforcing expectations for further gains. This bullish outlook remains valid as long as the price maintains stability above the 1.2780$ level.

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For today’s trading, the expected range is anticipated to fluctuate between 1.2800$ support and 1.2950$ resistance.

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Trend Forecast: Bullish

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