GBPUSD forex analysis for today, Monday(03-06-2024)

GBPUSD forex analysis for today, Monday(03-06-2024)

Check SELL Opportunity GBPUSD: Price Held at Resistance

Analyze GBPUSD

USD Weakens Post-Inflation Data

The USD weakened after last week’s US inflation data showed that US inflation remained stable in April, opening the door for the Fed to potentially cut interest rates this year. However, hawkish remarks from the Dallas Fed President, stating it is still too soon to decide on rate cuts, have limited the USD’s decline.

Held at Resistance Area

Prices are held at the resistance area. Look for selling opportunities in that resistance area.

Prediction: WEAK GBPUSD

  • Resistance
    • R1 1.28080
    • R2 1.27762
    • R3 1.28288
    • R4 1.28462
  • Support
    • S1 1.27460
    • S2 1.28080
    • S3 1.27297
    • S4 1.26999



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