GBPUSD Forex forecast for today – May 26, 2020

The pound gained over the dollar in the early Asian trading session.

As the markets open from the Monday holidays we expect big moves today.

Look at the key price levels of this week for likely places where price action kicks in.

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GBPUSD forecast for today.

gbpusd daily forecast today 26 May 2020
Chart of the GBPUSD forecast for today, May 26, 2020

Tides have shifted, the bulls have broken the 4 hour trend line above the weekly pivot.

If this strength goes into the London and US sessions, we will test 1.22621, 1.23141, and 1.23511 resistance levels.

Alternative scenario

Bear strength will provide generous moves to 1.20938, 1.20418, 1.20048, 1.19576 support levels.

Final remarks.

They may be a liquidity bump as banks open from the holidays.

I hope your strategy can accommodate small spikes before a clear price direction reveals itself.

Trade responsibly.

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