GBPUSD Forex Analysis for Today, Friday (19-01-2024)
Get Ready! Potential SELL on GBPUSD!
Daily Analysis GBPUSD
Pound Driven by Rise in Housing and Credit Sectors
GBPUSD experienced a boost due to the improvement in housing prices, decreasing from -41% to -30% according to a survey conducted by the Royal Institution of Chartered Surveyors. Household spending also increased based on a credit condition survey by the Bank of England.
Strength Held, Potential Rising Wedge Pattern
The strength of GBPUSD is held at the resistance area, and there is potential for a bearish rising wedge pattern. Correction may potentially occur as long as the resistance holds.
Prediction: WEAK GBPUSD
Resistance
- R1 1.27500
- R2 1.27100
- R3 1.27700
- R4 1.27900
Support
- S1 1.27100
- S2 1.27500
- S3 1.27000
- S4 1.26700
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