GBPUSD Forex Analysis for Today, Monday (22-01-2024)
Test Strong Resistance, GBPUSD Has the Opportunity to Break High
Wage Growth Report Weaker Than Expected
Data indicates wage growth below market expectations, while job vacancies decrease, signaling a potential slowdown in the labor market. With weak wage growth and a stable unemployment rate, analysts predict that the Bank of England will take a cautious approach in the February policy meeting, and there is speculation that an interest rate cut could begin in May.
Price Tests Strong Resistance
GBPUSD is observed to strongly hold at resistance, and prices are seen attempting to break through the daily resistance area. Sterling has the potential to break through the strong resistance barrier.
Prediction: STRONG GBPUSD
Resistance
- R1 1.27200
- R2 1.26800
- R3 1.27500
- R4 1.27700
Support
- S1 1.26800
- S2 1.27200
- S3 1.26600
- S4 1.25900
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