GBPUSD Forex Analysis for Today, Wednesday (29-05-2024)

GBPUSD Forex Analysis for Today, Wednesday (29-05-2024)

Prepare to BUY, GBPUSD Tests Support

Analysis of GBPUSD
UK’s Inflation Decline Falls Short of Expectations
The slower progress in reducing UK inflation in April diminishes the prospects of further rate cuts by the Bank of England.

Testing Support Area

The price has corrected to the support area. Buy opportunities can be sought in this support area.


Resistance Levels:

  • R1: 1.27602
  • R2: 1.27184
  • R3: 1.27768
  • R4: 1.27999

Support Levels:

  • S1: 1.27184
  • S2: 1.27602
  • S3: 1.27061
  • S4: 1.26869

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