GBPUSD Forex Analysis for Today, Tuesday(16-04-2024)
Monitor Opportunities to Sell GBPUSD: Price Moves in Bearish Continuation
Daily Analysis GBPUSD
Strength in Dollar Index
The US dollar (USD) is driven higher as US retail sales data rose 0.7% in March compared to the estimated 0.3%.
Potential for Price to Continue Declining
The current movement of GBPUSD has the potential for a pullback to the resistance area before continuing its decline. Confirmation of sell signals can be sought as long as prices do not break resistance.
Prediction: WEAK GBPUSD
Resistance
- R1 1.25255
- R2 1.24740
- R3 1.25494
- R4 1.25764
Support
- S1 1.24740
- S2 1.25255
- S3 1.24470
- S4 1.24180
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