GBPUSD Strengthen to bearish trend in H4
GBPUSD Strengthen to bearish trend in H4
GBPUSD attracts the some buyers for the second straight day but due to come valid resistances the GBPUSD is looking in downtrend. Despite a lack of follow-through buying and a persistent decline below the overnight swing high of 1.2600, the GBP/USD pair trades with a little positive bias throughout Tuesday's Asian session. When preparing for a continuation of the recent rebound from the 1.2475 region, or a five-week low reached last Friday, bearish traders are encouraged by the fundamental background, which also suggests exercising patience.
Andrew Bailey, the governor of the Bank of England (BoE), stated last week that anticipating interest rate reductions this year was not out of the ordinary. This comes after two BoE policymakers, who had voted in favour of higher rates, reversed course and supported maintaining borrowing prices at 5.25%, which might further weaken the GBP. On the other hand, given the positive prognosis for the US economy, the US Dollar (USD) delays the previous day's corrective pullback from the area of the monthly top. This helps to limit the upward potential of the GBP/USD pair even further.
NOTE : 📬 COMMENT, ✅LIKE AND ☑️ FOLLOW. THIS CAN HELP ME TO ANALYSE THE MARKET MORE EFFICIENTLY FOR YOU.
GBPUSD attracts the some buyers for the second straight day but due to come valid resistances the GBPUSD is looking in downtrend. Despite a lack of follow-through buying and a persistent decline below the overnight swing high of 1.2600, the GBP/USD pair trades with a little positive bias throughout Tuesday's Asian session. When preparing for a continuation of the recent rebound from the 1.2475 region, or a five-week low reached last Friday, bearish traders are encouraged by the fundamental background, which also suggests exercising patience.
Andrew Bailey, the governor of the Bank of England (BoE), stated last week that anticipating interest rate reductions this year was not out of the ordinary. This comes after two BoE policymakers, who had voted in favour of higher rates, reversed course and supported maintaining borrowing prices at 5.25%, which might further weaken the GBP. On the other hand, given the positive prognosis for the US economy, the US Dollar (USD) delays the previous day's corrective pullback from the area of the monthly top. This helps to limit the upward potential of the GBP/USD pair even further.
NOTE : 📬 COMMENT, ✅LIKE AND ☑️ FOLLOW. THIS CAN HELP ME TO ANALYSE THE MARKET MORE EFFICIENTLY FOR YOU.
Trade active