GBPUSD Forex Analysis for Today, Friday(05-07-2024)

GBPUSD Forex Analysis for Today, Friday(05-07-2024)

GBPUSD Forex Analysis for Today, Friday(05-07-2024)

Opportunity to BUY GBPUSD: Potential Symmetrical Triangle

GBPUSD Analysis

Market Awaits US NFP

The market is waiting for the release of US non-farm payrolls data tonight, which is expected to be worse than May’s data. If US economic data continues to deteriorate, it will raise expectations that the Fed will cut interest rates in September.

Potential Symmetrical Triangle

There appears to be a potential symmetrical triangle pattern forming on the H1 time frame. Buying opportunities can be taken if the pattern is confirmed.



  • R1 1.27374
  • R2 1.28000
  • R3 1.28300
  • R4 1.28670


  • S1 1.26500
  • S2 1.27000
  • S3 1.27500
  • S4 1.28000

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