GBPUSD Forex Analysis for Today, Monday (12-08-2024)
GBPUSD Still Potentially BEARISH, Holding at DOWN TRENDLINE!
GBPUSD Analysis
Market Awaits UK Wage and Employment Data
The market is anticipating the UK wage and employment data to be released on Tuesday (13/8/2024), followed by UK and US inflation data on Wednesday.
Holding at Down Trendline
GBPUSD remains in a downtrend. A pullback has occurred precisely at the down trendline visible on the H1 time frame.
Forecast: BEARISH GBPUSD
Resistance Levels:
- R1: 1.28500
- R2: 1.28000
- R3: 1.27500
- R4: 1.27000
Support Levels:
- S1: 1.28046
- S2: 1.27161
- S3: 1.26725
- S4: 1.26288
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