GBPUSD Forex Analysis for Today
Look for SELL Opportunities in GBPUSD, Monitor Resistance Area
GBPUSD Analysis
Market Expectation: BoE to Cut Rates in August
GBPUSD is under pressure in today’s Asian session. The market anticipates that the Bank of England will cut interest rates in August. Additionally, the market is also awaiting the release of US GDP data tonight.
Lower Swing Highs and Lows
On the H1 time frame, the swing highs and lows are getting lower, indicating that the technical structure still shows a downtrend.
Prediction: WEAK GBPUSD
Resistance
- R1: 1.29400
- R2: 1.29200
- R3: 1.29000
- R4: 1.28800
Support
- S1: 1.29501
- S2: 1.29208
- S3: 1.29057
- S4: 1.28872
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