GBPUSD Forex Analysis for Today, Wednesday (07-08-2024)
SELL Opportunity for GBPUSD: BoS Visible on H1 Time Frame
GBPUSD Analysis
USD and US Treasury Yields Strengthen
The strengthening of USD, coupled with rising yields on 10-year US Treasury bonds, continues to pressure GBPUSD. Additionally, there is a possibility that the Bank of England will continue its interest rate cut cycle.
BoS Detected
Break of Structure (BoS) is visible on the H1 time frame, with a pullback already occurring to this area, which can be used to look for confirmation of a sell signal.
Prediction: WEAK GBPUSD
Resistance
- R1 1.28500
- R2 1.28000
- R3 1.27500
- R4 1.27000
Support
- S1 1.27638
- S2 1.26584
- S3 1.26075
- S4 1.25562
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