GBPUSD 1H : still under sell pressure
GBPUSD
OUTLOOK
Markets are awaiting the Bank of England's interest decision next Thursday amid expectations that the British Central Bank will raise interest rates by 25 basis points, bringing the key interest rate to 5.50%.
Technical Abstract :
The GBP/USD pair shows some slight upward bias to test the 1.2400 barrier, so we maintain our expectations for the downward trend, which targets the 1.2310 level as the next main station.
Stability below 1.2400 represents a first condition for the continuation of the expected decline, as breaching it represents the key to achieving immediate gains targeting testing the 1.2460 and 1.2507 level before any new attempt to decline.
The expect range trading for today it will be between resistance line 1.2400 and support line 1.2310
support line : 1.2380 , 1.2310
resistance line : 1.2400 , 1.2460
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Markets are awaiting the Bank of England's interest decision next Thursday amid expectations that the British Central Bank will raise interest rates by 25 basis points, bringing the key interest rate to 5.50%.
Technical Abstract :
The GBP/USD pair shows some slight upward bias to test the 1.2400 barrier, so we maintain our expectations for the downward trend, which targets the 1.2310 level as the next main station.
Stability below 1.2400 represents a first condition for the continuation of the expected decline, as breaching it represents the key to achieving immediate gains targeting testing the 1.2460 and 1.2507 level before any new attempt to decline.
The expect range trading for today it will be between resistance line 1.2400 and support line 1.2310
support line : 1.2380 , 1.2310
resistance line : 1.2400 , 1.2460
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
