GBPUSD Forex Analysis for Today, Thursday(11-07-2024)

GBPUSD Forex Analysis for Today, Thursday(11-07-2024)

GBPUSD Forex Analysis for Today, Thursday(11-07-2024)

Opportunity to BUY GBPUSD: Break of Structure

GBPUSD Analysis

Powell’s Statement Raises Rate Cut Expectations

While reiterating that the Fed will continue to monitor developments before deciding on rate cuts, Powell mentioned that overall US inflation is slowing down. This has raised expectations that the Fed will soon cut interest rates.

Break of Structure

Price has moved above the swing high structure on the H1 time frame (Break of Structure/BoS). This breakthrough turns the BoS area into a support area (where resistance becomes support). Buying opportunities can be sought if there is a correction to this support area.



  • R1 1.28093
  • R2 1.28864
  • R3 1.29235
  • R4 1.29623


  • S1 1.26500
  • S2 1.27000
  • S3 1.27500
  • S4 1.28000

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