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.
Forecast: STRONG GBPUSD
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
Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.