GBPUSD Forex Analysis – Tuesday, January 16, 2024

GBPUSD Forex Analysis – Tuesday, January 16, 2024

GBPUSD Forex Analysis for Today – Tuesday, January 16, 2024

Check out the analysis at

GBPUSD Plunges to Support, Get Ready to SELL

Daily Analysis of GBPUSD

The potential for interest rate cuts continues to loom over as the dollar fluctuates amid renewed expectations of the Fed cutting interest rates in the near future. Expectations resurface following the deterioration of PPI data.

Bearish Candles Starting to Dominate

The dominance of bearish candles is beginning to show, and GBPUSD is held in the support area. A breakthrough of support will be confirmation for selling opportunities.

Conclusion: Weak GBPUSD

Resistance Levels

  • R1: 1.27400
  • R2: 1.26800
  • R3: 1.27700
  • R4: 1.27900

Support Levels

  • S1: 1.26800
  • S2: 1.27400
  • S3: 1.26600
  • S4: 1.26400

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. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.

 forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast

Leave a Reply

Your email address will not be published. Required fields are marked *