GBPUSD Forex Analysis for Today, Thursday (01-08-2024)





GBPUSD Forex Analysis for Today, Thursday (01-08-2024)

GBPUSD Forex Analysis for Today, Thursday (01-08-2024)

GBPUSD Still Has SELL Potential: Held by Resistance

GBPUSD Analysis

Market Awaits BoE Decision

The market is awaiting the Bank of England (BoE) decision, which is expected to cut interest rates by 25 basis points to 5%. About 58% of market participants believe BoE will cut rates in today’s meeting.

Watch Resistance Area

Prices are once again held in the resistance area visible on the H1 time frame. Look for confirmation of sell signals in that area.

Prediction: WEAK GBPUSD

Resistance

  • R1 1.29000
  • R2 1.28500
  • R3 1.28000
  • R4 1.27500

Support

  • S1 1.28903
  • S2 1.28054
  • S3 1.27611
  • S4 1.27191


JustMarkets

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