GBPUSD Forex Analysis for Today, Tuesday (02-07-2024)

GBPUSD Forex Analysis for Today, Tuesday (02-07-2024)

GBPUSD Forex Analysis for Today, Tuesday (02-07-2024)

SELL Opportunity for GBPUSD: Moving Back Below Resistance

Analysis GBPUSD

BoE Likely to Cut Rates in August

Speculation of an interest rate cut by the Bank of England in August is putting pressure on the pound sterling. The market is also awaiting US employment data at the end of this week.

Monitor Resistance Area

GBPUSD has moved back below the resistance area. At the same time, prices have broken below a minor trendline on the H1 time frame. Monitor the resistance area for confirmation of sell signals.

Prediction: Weak GBPUSD


  • R1 1.27106
  • R2 1.27000
  • R3 1.26697
  • R4 1.26500


  • S1 1.27106
  • S2 1.26282
  • S3 1.26000
  • S4 1.25704

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