GBPUSD Forex Analysis for Today, Wednesday(28-02-2024)

GBPUSD Forex Analysis for Today, Wednesday(28-02-2024)

GBPUSD Forex Analysis for Today, Wednesday(28-02-2024)

GBPUSD Monitors Strong Resistance Barrier

Daily Analysis GBPUSD

GBP Inflation Remains High

GBP/USD is traded 0.1% higher at 1.2698, after data shows that UK food prices rose this month to the lowest level since March 2022. However, UK inflation continues to run above the Bank of England’s medium-term target of 2%, indicating that the BOE is still lagging behind the Federal Reserve and the European Central Bank in terms of interest rate cuts.

Consolidation at the Peak

Prices are still held in the resistance area, tending to move sideways at the peak on the H1 time frame. Prices have the opportunity to wait and see the GDP data release tonight. BUY opportunities open when GBPUSD successfully breaks the high resistance barrier.



  • R1 1.27215
  • R2 1.26720
  • R3 1.27583
  • R4 1.27797


  • S1 1.26500
  • S2 1.26915
  • S3 1.26255
  • S4 1.26000

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