GBPUSD Poised for BUY, Still Moving Above Up Trendline
GBPUSD Analysis
Bank of England Likely to Delay Rate Cut
The Bank of England (BoE) is expected to be more cautious in cutting interest rates compared to other major central banks. BoE Governor, Andrew Bailey, mentioned that inflation remains the central concern for the BoE. He noted that it is still too early to declare that inflation is under control.
Still Above Up Trendline
Price remains stable, moving above the up trendline area visible on the H1 time frame. A buy signal can be sought if a correction occurs towards this trendline area.
Forecast: STRONG GBPUSD
Resistance Levels:
- R1: 1.31012
- R2: 1.32000
- R3: 1.32503
- R4: 1.33015
Support Levels:
- S1: 1.30000
- S2: 1.30500
- S3: 1.31000
- S4: 1.31500
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.
forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast