GBPUSD Forex Analysis for Today, Friday (09-08-2024)
SELL Opportunity on GBPUSD! Stalled Exactly at DOWN TRENDLINE!
GBPUSD Analysis
US Jobless Claims Improve
The pound sterling saw some strengthening yesterday due to expectations of a 50 basis point rate cut by the Fed in September, but this gain was constrained by the improvement in US weekly jobless claims data.
Stalled at Down Trendline
GBPUSD continues to move within a downtrend. The pullback has occurred precisely at the down trendline visible on the H1 time frame.
Prediction: WEAK GBPUSD
Resistance
- R1 1.29000
- R2 1.28500
- R3 1.28000
- R4 1.27500
Support
- S1 1.28046
- S2 1.26885
- S3 1.26279
- S4 1.25720
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