US Dollar Wobbles as Markets Await Powell; Setups on EUR/USD, GBP/USD, USD/CAD
GBP/USD rose through Tuesday’s trading, testing north of 1.2700 but mixed market sentiment is keeping the pair close to key levels as momentum remains limited. The pair broke through a key resistance layer, and a pullback could see bullish momentum extend as long as declines remain limited to the 1.2700 region.
Plenty of longer-term technical resistance is baked into daily candlesticks. 1.2800 remains a key level for bulls to beat, and the 200-day Simple Moving Average (SMA) continues to grind slowly higher, reaching 1.2580.
Confirm Chart
GBP/USD rose through Tuesday’s trading, testing north of 1.2700 but mixed market sentiment is keeping the pair close to key levels as momentum remains limited. The pair broke through a key resistance layer, and a pullback could see bullish momentum extend as long as declines remain limited to the 1.2700 region.
Plenty of longer-term technical resistance is baked into daily candlesticks. 1.2800 remains a key level for bulls to beat, and the 200-day Simple Moving Average (SMA) continues to grind slowly higher, reaching 1.2580.
Confirm Chart