British Pound to US Dollar (GBP/USD) Forex Analysis – Thursday(29-02-2024)

British Pound to US Dollar (GBP/USD) Forex Analysis – Thursday(29-02-2024)

British Pound to US Dollar (GBP/USD) Forex Analysis for Today


GBP/USD Potential for SELL: Testing Resistance

Daily Analysis GBP/USD

Market Awaits US Inflation Reading

The dollar remains stable ahead of the announcement of inflation data, which could serve as an indication of when the Fed might implement an interest rate cut.

Pullback Restrained by Resistance

Prices are observed pulling back to the resistance area and the previously breached trendline. As long as the price does not move back above the trendline, selling opportunities can still be sought.

Prediction: WEAK GBP/USD


  • R1 1.27111
  • R2 1.26536
  • R3 1.27293
  • R4 1.27641


  • S1 1.26536
  • S2 1.27111
  • S3 1.26386
  • S4 1.26157

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