GBPUSD Forex Analysis for Today – Monday (06-05-2024)
Sell Opportunity for GBPUSD: GBPUSD Held at Trendline and Resistance
GBPUSD Analysis
Market Awaits BoE Decision
The Bank of England will announce interest rates this week with a focus on potential economic weakness. Even this month’s estimate from the Organization for Economic Cooperation and Development predicts that the UK’s economic downturn is the worst among the G7 countries.
Trendline and Resistance Holding
Prices are held at the trendline and resistance area seen on the H4 timeframe. Sell opportunities can be sought at the trendline and resistance area.
Prediction: WEAK GBPUSD
Resistance Levels
- R1: 1.26498
- R2: 1.25706
- R3: 1.26926
- R4: 1.27464
Support Levels
- S1: 1.25706
- S2: 1.26498
- S3: 1.25332
- S4: 1.24985

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.