GBPUSD Forex Analysis for Today, Thursday (20-06-2024)
Potential SELL GBPUSD: Bearish Flag Opportunity
GBPUSD Analysis
UK CPI Weakens
The UK CPI data was released lower than expected, a day before the BoE’s interest rate announcement. The market will be awaiting the BoE’s statement following the rate announcement.
Potential Bearish Flag
A potential bearish flag pattern is visible on the H4 time frame. Selling opportunities can be taken if there is a bearish signal confirmation at the upper line of the pattern.
Prediction: WEAK GBPUSD
Resistance Levels
- R1 1.28000
- R2 1.27620
- R3 1.27500
- R4 1.27310
Support Levels
- S1 1.27200
- S2 1.27620
- S3 1.27101
- S4 1.26903
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