GBPUSD Forex forecast for today – May 21, 2020

The bears are back on the wheels pulling the GBPUSD price back to the weekly pivot in the early Asian trading session.

From here price can go any direction as we see from the charts.

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GBPUSD forecast for today.

gbpusd daily forecast today 21 May 2020
Chart of the GBPUSD forecast for today, May 21, 2020

Bearish strength will have us re-test 1.20596 support level and a dash for levels below 1.19738.

Alternative scenario

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

Final remarks.

The bank holiday in Europe, the Flash Manufacturing PMIs from UK and later the US may bring an infuse of liquidity and risk to the markets today.

So, trade responsibly.

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