GBPUSD Forex Analysis for Today, Friday(12-07-2024)
Opportunity to BUY GBPUSD: Potential Symmetrical Triangle
GBPUSD Analysis
US CPI Data Slows Down
The US CPI data, one of the inflation indicators monitored by the Fed, has slowed down, further strengthening the market’s belief that the Fed will start a rate-cutting cycle this year in September.
Potential Symmetrical Triangle
A potential symmetrical triangle pattern is visible on the M30 time frame. Buying opportunities can be sought if there is a breakout above the upper line area of this pattern.
Prediction: STRONG GBPUSD
Resistance
- R1 1.28976
- R2 1.29534
- R3 1.29837
- R4 1.30133
Support
- S1 1.28500
- S2 1.29000
- S3 1.29500
- S4 1.30000
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