GBPUSD Forex Analysis for Today, Thursday (16-05-2024)

GBPUSD Forex Analysis for Today, Thursday (16-05-2024)

GBPUSD Forex Analysis for Today, Thursday (16-05-2024)

Monitor BUY Opportunities: GBPUSD Rally

GBPUSD Analysis

US Inflation Data Pressures USD

The USD weakened after CPI and retail sales data came in weaker than expected, making the market more confident that the Fed will proceed with interest rate cuts in September.

Monitor Potential Resistance Break

Prices are still consolidating in the resistance area visible in the H1 time frame. A breakout above the resistance area will increase buy opportunities.



  • R1 1.27006
  • R2 1.26597
  • R3 1.27202
  • R4 1.27419


  • S1 1.26597
  • S2 1.27006
  • S3 1.26430
  • S4 1.26221

Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.

 forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast

Leave a Reply

Your email address will not be published. Required fields are marked *