GBPUSD Still Below Descending Trendline, Look for Selling Opportunities
Analysis GBPUSD
BoE Keeps Interest Rates Unchanged
Seven out of nine members of the Monetary Policy Committee (MPC) chose to maintain interest rates, while the remaining two opted to cut interest rates. This decision differs from market expectations, where all nine MPC members were expected to agree on keeping interest rates unchanged. BoE Governor Andrew Bailey mentioned the possibility of BoE cutting interest rates beyond market expectations.
Price Still Below Descending Trendline
Prices are still moving below the descending trendline visible on the H4 time frame. Selling opportunities can be sought in the trendline and nearest resistance area.
Prediction: WEAK GBPUSD
Resistance
- R1 1.26485
- R2 1.25317
- R3 1.26926
- R4 1.27464
Support
- S1 1.25317
- S2 1.26485
- S3 1.24984
- S4 1.24625
Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.
forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast