GBPUSD Forex Analysis for Today, Monday (15-01-2024)
Check GBPUSD! Sell Opportunity from Wedge Potential
Daily Analysis GBPUSD
US PPI Data Pressures the Dollar, But Temporarily
Unexpected weakness in US PPI data for December 2023 triggered a correction in the USD, raising expectations of Fed interest rate cuts, but it was temporary, and GBPUSD declined again.
Potential Rising Wedge Pattern
GBPUSD shows the potential of a reversal rising wedge pattern. A breakthrough in support will confirm the selling opportunity.
Conclusion: Weak GBPUSD
Resistance
- R1 1.27900
- R2 1.27250
- R3 1.28250
- R4 1.28600
Support
- S1 1.27250
- S2 1.27900
- S3 1.27000
- S4 1.26850
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