GBPUSD Forex Analysis for Today – Tuesday (14-05-2024)
Check SELL Opportunities for GBPUSD Now! Price Returns to Resistance
GBPUSD Analysis
Market Focus on US Inflation Data
The market’s focus has now shifted to the scheduled release of US inflation data, which is likely to be higher than expected. If true, this will give the Fed a reason to delay interest rate cuts until September and provide support for the USD.
Price Still Testing Resistance
The price is still moving in the descending trendline area visible on the H4 time frame and is still testing the resistance area. Sell opportunities can be sought in the nearest resistance area.
Prediction: WEAK GBPUSD
Resistance Levels
- R1 1.26485
- R2 1.25676
- R3 1.26926
- R4 1.27464
Support Levels
- S1 1.25676
- S2 1.26485
- S3 1.25284
- S4 1.24764
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