GBPUSD Forex Analysis for Today
GBPUSD Still Has SELL Potential, Monitor Resistance Area
GBPUSD Analysis
UBS Predicts BoE Will Cut Rates in August and November
The Bank of England (BoE) is expected to cut interest rates to 5 percent in August, scheduled for next week. Additionally, UBS analysts predict the BoE will cut rates again in November by 25 basis points.
Monitor Resistance Area
On the H1 time frame, a pullback is occurring near the resistance area, which also marks the occurrence of a Break of Structure (BoS). Sell opportunities can be considered if a pullback occurs to this area.
Prediction: WEAK GBPUSD
Resistance
- R1: 1.29400
- R2: 1.29200
- R3: 1.29000
- R4: 1.28800
Support
- S1: 1.28973
- S2: 1.28572
- S3: 1.28358
- S4: 1.28160
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