Check GBPUSD SELL Opportunity, Trendline Broken!
GBPUSD Analysis
USD Strengthens Ahead of Month-End
The USD has gained strength as the month-end approaches, recovering from its earlier dip to annual lows. The market is now awaiting economic data that could influence the pace of Fed’s interest rate cuts, such as the US GDP to be released tonight and the US Core PCE Price Index later this week.
Up Trendline Broken
The price has broken below the uptrend line seen on the H1 timeframe, making the intraday bias more bearish today. A sell signal can be sought if the price returns to the designated entry area.
Prediction: WEAK GBPUSD
Resistance Levels
- R1 1.33000
- R2 1.32500
- R3 1.32000
- R4 1.31500
Support Levels
- S1 1.32727
- S2 1.31718
- S3 1.31236
- S4 1.30754
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.