GBPUSD Forex Analysis for Today, Monday (20-05-2024)
Look for BUY Opportunities on GBPUSD, Still Moving in Uptrend
GBPUSD Analysis
Dollar Under Pressure Again
The USD is under pressure again as the market continues to speculate about the timing of the Fed’s interest rate cuts amidst signs of slowing inflation and the US economy.
Buy If Resistance Breaks
GBPUSD is still moving in an uptrend as seen on the H1 timeframe. The chances of a buy opportunity will increase if a breakout above resistance occurs.
Prediction: STRONG GBPUSD
Resistance
- R1 1.27180
- R2 1.26160
- R3 1.27611
- R4 1.28040
Support
- S1 1.26160
- S2 1.26534
- S3 1.25887
- S4 1.25653
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