GBPUSD Forex Analysis for Today, Thursday (13-06-2024)

GBPUSD Forex Analysis for Today, Thursday (13-06-2024)

GBPUSD Forex Analysis for Today, Thursday (13-06-2024)

GBPUSD Testing Support, Sell If Breaks

GBPUSD Analysis

Fed Expects Rate Cut Only Once

USD recovered after the Fed estimated they would only cut interest rates once this year, thus hindering the strengthening of GBPUSD. Economic growth in the UK stalled in April. GDP recorded zero percent in April, down from 0.4 percent in March.

Sell If Breaks Support

GBPUSD is correcting lower again. Selling opportunities can be sought if there is a breakthrough below the support area.

Prediction: WEAK GBPUSD

Resistance Levels

  • R1 1.28231
  • R2 1.27739
  • R3 1.28444
  • R4 1.28695

Support Levels

  • S1 1.27739
  • S2 1.28231
  • S3 1.27536
  • S4 1.27043

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