GBPUSD Forex Analysis for Today, Tuesday (06-02-2024)
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GBPUSD PLUNGES! Breaks Support Signal SELL
Daily GBPUSD Analysis
Market Expects Interest Rates Not to Be Cut Too Much
The dollar strengthened last night after improved ISM non-manufacturing PMI data led the market to expect that the Fed would not cut interest rates too much this year.
Monitor Support Area
Prices are testing the support area after a significant drop. A breakthrough of the support area will increase the chances of a sell today.
Prediction: WEAK GBPUSD
Resistance
- R1 1.26746
- R2 1.25042
- R3 1.25977
- R4 1.26234
Support
- S1 1.25042
- S2 1.25680
- S3 1.24761
- S4 1.24297
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