SELL Opportunity for GBPUSD: Triangle Pattern Observed
GBPUSD Analysis
USD Strengthens, Market Focuses on US NFP
The USD strengthened as market expectations for aggressive Fed rate cuts this month have diminished. This week, the market’s attention temporarily shifts to a series of data, culminating in the US non-farm payrolls report on Friday.
Minor Trendline Break Confirms Triangle
On the H1 time frame, the price is seen moving below a down trendline. A break below a minor trendline also confirms a triangle pattern. The bias today tends to favor a sell for GBPUSD.
Prediction: WEAK GBPUSD
Resistance Levels
- R1 1.32600
- R2 1.32400
- R3 1.32200
- R4 1.32000
Support Levels
- S1 1.32063
- S2 1.30962
- S3 1.30400
- S4 1.29860
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