GBPUSD Forex Analysis for Today, Monday (05-08-2024)
SELL Opportunity for GBPUSD! Still Held by Resistance!
GBPUSD Analysis
Fed and BoE Interest Rate Issues Impact the Market
Last week, the Bank of England (BoE) reduced interest rates by 25 basis points to 5%, while the Fed maintained rates at 5.5%. Both central banks are expected to continue their rate-cutting cycles.
BoS Detected
Price remains constrained at the resistance level visible on the H1 time frame, which also indicates a Break of Structure (BoS). Look for sell confirmation signals in this area.
Prediction: WEAK GBPUSD
Resistance
- R1 1.29500
- R2 1.29000
- R3 1.28500
- R4 1.28000
Support
- S1 1.28670
- S2 1.27393
- S3 1.26804
- S4 1.26221
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.