Check Selling Opportunities in GBPUSD Now! Price Returning to Resistance
Analysis GBPUSD
BoE Chief Economist Growing More Confident in Rate Cut
The Bank of England’s chief economist, Huw Pill, indicates increasing confidence that a rate cut is highly likely. Meanwhile, tomorrow’s UK unemployment claims are expected to rise.
Price Still Below Trendline and Testing Resistance
Prices are still moving below the descending trendline visible on the H4 time frame and are retesting the resistance area. Selling opportunities can be sought in that trendline and nearest resistance area.
Prediction: WEAK GBPUSD
Resistance
- R1 1.26485
- R2 1.25317
- R3 1.26926
- R4 1.27464
Support
- S1 1.25317
- S2 1.26485
- S3 1.24984
- S4 1.24625
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