GBPUSD Forex Analysis for Today – Tuesday(12-03-2024)
Prepare to BUY GBPUSD: Supported by Support and Trendline
Daily GBPUSD Analysis
The Bank of England (BoE) is not expected to cut interest rates until August, as signs of improvement in the UK economy suggest that the central bank will hold off on rate cuts for some time.
Corrected to the Trendline Area
Prices corrected and held in the support and trendline area visible on the H1 time frame. Confirmation of buy signals can be sought in the support and trendline areas.
Prediction: STRONG GBPUSD
Resistance Levels
- R1 1.28265
- R2 1.27818
- R3 1.28432
- R4 1.28871
Support Levels
- S1 1.27818
- S2 1.28265
- S3 1.27596
- S4 1.27324
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