GBPUSD Forex Analysis for Today, Friday (02-02-2024)
Opportunity to Sell GBPUSD: Look for Signals at Resistance Area
Daily GBPUSD Analysis
Market Expects Fed Rate Cut in May
The dollar weakens as the market remains confident that the Fed will cut interest rates soon, despite Fed Chair Jerome Powell stating that a rate cut in March seems unlikely. The market now anticipates it will be done in May.
Resistance Holding, Selling Opportunity Arises
Prices are held at the resistance area. Candlesticks are getting smaller, indicating a decrease in bullish momentum. Look for sell signals in that resistance area.
Prediction: WEAK GBPUSD
Resistance
- R1: 1.27760
- R2: 1.27462
- R3: 1.27901
- R4: 1.28127
Support
- S1: 1.27462
- S2: 1.27760
- S3: 1.27383
- S4: 1.27147
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