GBP/USD: Downtrend Extended
Hello traders!
Today, GBP/USD made an impressive reversal above 1.3000 on Monday, as the market turned cautious ahead of a slew of important economic data from the UK due for release this week. The wage and employment reports will kick off on Tuesday morning, followed by notable CPI and PPI figures on Wednesday.
Technical analysis shows that GBP/USD remains stuck in a downtrend channel, with strong resistance at 1.3300 still intact. This suggests that the market is unlikely to make a significant breakout in the short term without fresh momentum.
Today, GBP/USD made an impressive reversal above 1.3000 on Monday, as the market turned cautious ahead of a slew of important economic data from the UK due for release this week. The wage and employment reports will kick off on Tuesday morning, followed by notable CPI and PPI figures on Wednesday.
Technical analysis shows that GBP/USD remains stuck in a downtrend channel, with strong resistance at 1.3300 still intact. This suggests that the market is unlikely to make a significant breakout in the short term without fresh momentum.
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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.