GBPUSD Forex Analysis for Today, Friday(24-05-2024)
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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.
Forecast: WEAK GBPUSD
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
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