GBPUSD Forex forecast for today – May 20, 2020

The bulls look resolved to clench onto their gains, steadily pushing prices towards key resistance levels.

The economic calendar today is filled with low impact news releases.

Often, that means price action will drive prices.

So let’s look at the charts.

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GBPUSD forecast for today.

gbpusd daily forecast today 20 May 2020
Chart of the GBPUSD forecast for today, May 20, 2020

Bullish strength will see us at 1.23374 and resistance levels above 1.24232 – if 1.24232 doesn’t restrain the bulls.

Alternative scenario

Bearish strength will have us back at 1.20596 and a dash for levels below 1.19738.

Final remarks.

If buyers don’t push prices early in the London session to the resistance levels above, then we may have a retracement to the pivot level for more buying power.

Trade responsibly.

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