GBPUSD Forex Analysis for Today, Thursday (22-02-2024)





GBPUSD Forex Analysis for Today, Thursday (22-02-2024)

GBPUSD Forex Analysis for Today, Thursday (22-02-2024)

SELL Opportunity for GBPUSD: Potential Triangle Pattern

Daily GBPUSD Analysis

Market Confident in Fed Rate Cut Starting June

Market participants are confident that the Federal Reserve will only start cutting interest rates from June this year. From the FOMC minutes, it is evident that the interest rate hike cycle ended in January.

Potential Symmetrical Triangle

Prices are held at the resistance area, and there is a potential symmetrical triangle pattern on the H4 time frame. Sell opportunities can be sought at the upper line or resistance area.

Prediction: WEAK GBPUSD

Resistance

  • R1 1.26864
  • R2 1.26531
  • R3 1.27144
  • R4 1.27481

Support

  • S1 1.26531
  • S2 1.26864
  • S3 1.26287
  • S4 1.25936


JustMarkets

Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.

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