GBPUSD Forex forecast for today – May 6, 2020

Yesterday was more of a side ways trading day, with buyer only able to push price to 1.24855 – the weekly pivot.

Sellers, quickly jumped in, dragging price to where it all started.

Let’s see what we’ve got today.

GBPUSD forecast for today.

gbpusd daily -forecast-today-6-May-2020
Chart of the GBPUSD forecast for today, May 6, 2020

As it was yesterday, we are still bearish.

With the same targets of 1.23774, 1.23107 and 1.22632

But, after a price consolidation of the kind, don’t be surprised if sellers ram through these targets.

Alternative scenario

On the other hand, a bullish trading day will see price test the 1.25935 resistance level.

Final remarks.

Anything happens in the market, so be careful and trade responsibly.

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Happy trading.

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