GBPUSD Forex Analysis for Today, Friday(12-01-2024)
Resistance Hit! Is GBPUSD Getting Ready to SELL?
Daily Analysis GBPUSD
US CPI Data Temporarily Pressures GBPUSD
Yesterday, GBPUSD experienced pressure following the release of high US CPI data, triggering market belief that the Fed’s interest rates will remain high even after March 2024.
Pull Up Stalled at Resistance
GBPUSD pulled up again but stalled in the resistance area. As long as the price has not been able to break yesterday’s high, there is still potential for correction today.
Conclusion: WEAK GBPUSD
Resistance
- R1 1.28000
- R2 1.26800
- R3 1.28400
- R4 1.28600
Support
- S1 1.27574
- S2 1.28000
- S3 1.27400
- S4 1.27000
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