GBPUSD Forex Analysis for Today, Wednesday(21-02-2024)

GBPUSD Forex Analysis for Today, Wednesday(21-02-2024)

GBPUSD Stalled at Resistance: Opportunity to SELL

Daily Analysis GBPUSD

USD Corrected, Impacted by China’s Interest Rate Decision

GBP strengthened as USD corrected yesterday, following China’s decision to cut their interest rates in an effort to support their troubled property sector. This raised hopes for additional stimulus that could trigger global growth.

Stalled at Resistance Again

Prices are stalled in the resistance area on the H4 time frame. Monitor the support area because if breached, it will increase the selling opportunities today.

Prediction: WEAK GBPUSD


  • R1 1.26864
  • R2 1.26410
  • R3 1.27144
  • R4 1.27481


  • S1 1.25873
  • S2 1.26410
  • S3 1.25665
  • S4 1.25350

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