GBPUSD Forex forecast for today – May 5, 2020

The Sterling found buyers around 1.24060, but they have not moved price as the move looks like an anthill cast in the foreground of a mountain.

With very little buying power, we may see the GBPUSD continue with its downward move.

But, the charts will do the talking.

GBPUSD forecast for today.

gbpusd daily -forecast-today-5-May-2020
Chart of the GBPUSD forecast for today, May 5, 2020

We are still bearish.

Our target are 1.23774, 1.23107 and 1.22632

Potential trade areas may present themselves after a pull-back from 1.24855 or 1.25115

Alternative scenario

A strong pound will see price test the 1.25935 resistance level.

Final remarks.

Today we expect the ISM Non-Manufacturing PMI data, and like the latest trend, the forecast figures are much lower than the previous results.

Anything happens, so be careful.

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