GBPUSD Forex Analysis for Today, Friday (19-07-2024)
SELL Opportunity for GBPUSD: Trendline Break
Analysis GBPUSD
UK Wage Growth Slows
Data shows that the rate of wage growth in the UK has slowed, causing the pound sterling to correct.
Trendline Break + ChoCh
The price has broken below the descending trendline visible on the H1 time frame. The support and swing low structure also broke, confirming a change of character (ChoCh).
Prediction: WEAK GBPUSD
Resistance
- R1 1.30500
- R2 1.30000
- R3 1.29500
- R4 1.29000
Support
- S1 1.29338
- S2 1.30592
- S3 1.31184
- S4 1.31812
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