GBPUSD Forex Analysis for Today, Wednesday (03-07-2024)

GBPUSD Forex Analysis for Today, Wednesday (03-07-2024)

GBPUSD Forex Analysis for Today, Wednesday (03-07-2024)

Resistance Holds Again, Monitor SELL Opportunities for GBPUSD

Analysis GBPUSD

Market Awaits US Employment Data

After the JOLTs job openings data came in better than expected, the market is now waiting for the ADP non-farm payrolls data, which is also expected to improve this evening. Both of these reports are precursors to the US non-farm payrolls data to be announced at the end of this week.

Monitor Resistance Area

GBPUSD is back in the resistance area. Keep monitoring this resistance area for confirmation of sell signals.

Prediction: Weak GBPUSD

Resistance

  • R1 1.27336
  • R2 1.26991
  • R3 1.26863
  • R4 1.26500

Support

  • S1 1.27336
  • S2 1.26637
  • S3 1.26313
  • S4 1.26015
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