GBPUSD Forex Analysis for Today, Friday(24-05-2024)

GBPUSD Forex Analysis for Today, Friday(24-05-2024)

GBPUSD Forex Analysis for Today, Friday(24-05-2024)

Prepare to SELL GBPUSD! Uptrend Trendline Already Broken!

GBPUSD Analysis

USD Strength Pressuring GBPUSD

The US S&P Global Composite PMI rose to 54.4 in May, the highest since April 2022. This data caused the USD to strengthen and pressurize the GBPUSD pair.

Uptrend Trendline Already Broken

The uptrend trendline that was visible on the H1 time frame has already been broken. Today, you can look for selling opportunities if there is a breakthrough below the support area.


Resistance Levels:

  • R1 1.27605
  • R2 1.27267
  • R3 1.27925
  • R4 1.28134

Support Levels:

  • S1 1.26821
  • S2 1.27267
  • S3 1.26659
  • S4 1.26400

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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