GBPUSD Forex Analysis for Today, Friday (31-05-2024)

GBPUSD Forex Analysis for Today, Friday (31-05-2024)

Prepare to BUY GBPUSD If Resistance Breaks

Analysis of GBPUSD
USD and US Bond Yields Weaken
The USD and US bond yields weakened following the weak US Preliminary GDP data, reviving expectations that the Fed will proceed with interest rate cuts this year.

Monitor Resistance Area

Prices are rising, testing the resistance area. Buy opportunities can be sought if a breakout above this resistance area occurs.


Resistance Levels:

  • R1: 1.27598
  • R2: 1.27627
  • R3: 1.27768
  • R4: 1.27999

Support Levels:

  • S1: 1.27235
  • S2: 1.27598
  • S3: 1.26973
  • S4: 1.26794

Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

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