GBPUSD Forex forecast for today – May 15, 2020

As we did predict yesterday, price did test 1.21701 where it found buyers who moved it back finally settling again around the 1.22167 key support level.

It is a tug of war indeed.

Who wins the war? Let’s look at the charts for clues.

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GBPUSD forecast for today.

gbpusd daily -forecast-today-15-May-2020
Chart of the GBPUSD forecast for today, May 15, 2020

If bear strength brings the price back to 1.21701 then it is likely to shoot below 1.20868

Alternative scenario

If the 1.21701 support level holds, we may have ourselves more buying momentum.

Bulls will want to recover this week’s losses.

In that case we shall see a sharp rise to the daily pivot 1.23882 and a mad hunt for levels above 1.24715

Final remarks.

I hope you have yourself a great and profitable trading day and a nice weekend.

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Happy trading.

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