GBPUSD: Bearish Trend Dominates!
Hello everyone,
GBP/USD turned bearish on Tuesday, falling nearly 1% in European trading on Wednesday.
The pair faced fresh supply after BoE Governor Andrew Bailey said the central bank could become “more proactive” in cutting interest rates if inflation eases. Risk-off sentiment due to Middle East concerns also weighed on the pair, while technical indicators still do not signal a solid recovery.
With that in mind, this could be a prime Shorting opportunity, targeting the nearest support levels of 1.313 and 1.300.
GBP/USD turned bearish on Tuesday, falling nearly 1% in European trading on Wednesday.
The pair faced fresh supply after BoE Governor Andrew Bailey said the central bank could become “more proactive” in cutting interest rates if inflation eases. Risk-off sentiment due to Middle East concerns also weighed on the pair, while technical indicators still do not signal a solid recovery.
With that in mind, this could be a prime Shorting opportunity, targeting the nearest support levels of 1.313 and 1.300.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.