(GBP | USD) Forex Trading Analysis Today Forex Forecast | May 10, 2024 | GBPUSD Analysis

Forex Trading Analysis

Hello Guys today is Friday, May 10th, 2024 I am going to analyze the gbpusd currency pair let us start the top-to-bottom wave analysis inside the daily time frame the trend is down in pound dollar currency per Daily time frame resistance is present at 1. 12708 price level price action is most likely going to rise to print bullish wave X pull back and then drop to print bearish Wave Y double zigzag leg in coming trading days decisive bullish break out above 1.2708 resistance area is going to end up downtrend in the daily chart of GP USD currency pair

At 4hour time frame price action is printing higher swing highs and higher swing lows to me GBP USD pair Trend looks up in 4Hour time frame

At 1 one-hour time frame the trend is up in 1 one-hour chart intraday support is present at 1.2 445 price level price action is most likely going to drop to print bearish with pullback back and then rise to print bullish wave C zigzag corrective leg which offers a chance to join an uptrend in gbpusd a decisive bearish break below 1. 12445 support level is going to end uptrend in 1 hour chart of Great British pound versus United States dollar currency pair

More specifically the green color highlighted area offers a buying opportunity which is the the previous second wave of one lesser degree