GBPUSD Forex Analysis for Today – Friday (26-04-2024)
SELL Opportunity in GBPUSD: Potential Double Top
GBPUSD Daily Analysis
Market Focus on US Core PCE
The market’s attention is on the announcement of the US Core PCE data scheduled for tonight. Components of this data, such as durable goods orders, also show an increase. Rising inflationary elements like Core PCE can strengthen the Fed’s confidence to delay interest rate cuts until September, while also opening up opportunities for USD strengthening.
Potential Double Top Formation
Prices are testing the resistance area and potentially forming a double top pattern on the H1 time frame. Sell opportunities can be sought if there is confirmation of a bearish signal in that resistance area.
Prediction: WEAK GBPUSD
Resistance Levels
- R1: 1.25874
- R2: 1.24987
- R3: 1.26164
- R4: 1.26532
Support Levels
- S1: 1.24987
- S2: 1.25874
- S3: 1.24832
- S4: 1.24266
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