GBPUSD Forex forecast for today – May 12, 2020

The USD is continuing to assert its strength across the markets.

In the calendar today we have the US CPI m/m, Core CPI m/m – an economic indicator that measures change in the price of goods and services purchased by consumers, excluding food and energy.

The forecast for both are worse than previous results.

We’ll, however, look at the charts for possible places price will touch.

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GBPUSD forecast for today.

gbpusd daily -forecast-today-12-May-2020
Chart of the GBPUSD forecast for today, May 12, 2020

A strong dollar will see us test these levels.

1.22534. 1.22167, 1.21701

Alternative scenario

While a strong pound will have buyers reach for 1.23882 and above 1.24715

Final remarks.

Hope you have yourself a great and profitable trading day.

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