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.
Forecast: STRONG GBPUSD
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
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