GBPUSD Forex Analysis for Today – Tuesday (13-02-2024)
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GBPUSD Still Targeting Support: SELL if Broken
Daily Analysis on GBPUSD
Market Still Awaits US CPI Data Tonight
The dollar slightly strengthened yesterday as the market awaits US CPI data tonight and retail sales later this week. The market predicts that January CPI data will provide evidence that inflation is decreasing towards the 2% inflation target.
Look for Opportunities if Support is Broken
Still moving sideways on the H1 time frame between support and resistance. Previous movements still reflect a bearish bias. Breaking below the support will increase the selling opportunities.
Prediction: WEAK GBPUSD
Resistance
- R1 1.26689
- R2 1.25934
- R3 1.26907
- R4 1.27347
Support
- S1 1.25934
- S2 1.26689
- S3 1.25669
- S4 1.25159
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