GBPUSD continues to target 1.2800
Hello traders, let's discuss and strategize our new day!
On international market news: GBP/USD maintained its position in positive territory, fluctuating around 1.2650 during the Asian session on Tuesday. The pair gained ground on improved risk appetite ahead of Consumer Price Index data expected on Wednesday.
The US Dollar (USD) faces challenges amid volatile markets, influenced by the cautious stance of the Federal Reserve. According to CME FedWatch Tool, the probability of the Fed cutting interest rates by 25 basis points in June has decreased to 51.1%.
Conclusion: Sterling opened the week with a slight uptrend. A slightly softer US Dollar amid moderate risk appetite has allowed the pair to extend the recovery from post-NFP lows, returning to the 1.2600s average.
Technically, it is likely that the 1.2600 price level will be retested in the near term, forming a trend line and using it as strong support for a further rise to support for potential accumulation ahead. when growing further. A retest of the resistance and a break, nothing will stop GBP from growing higher. The targets in this case are 1.2750 and 1.2800
On international market news: GBP/USD maintained its position in positive territory, fluctuating around 1.2650 during the Asian session on Tuesday. The pair gained ground on improved risk appetite ahead of Consumer Price Index data expected on Wednesday.
The US Dollar (USD) faces challenges amid volatile markets, influenced by the cautious stance of the Federal Reserve. According to CME FedWatch Tool, the probability of the Fed cutting interest rates by 25 basis points in June has decreased to 51.1%.
Conclusion: Sterling opened the week with a slight uptrend. A slightly softer US Dollar amid moderate risk appetite has allowed the pair to extend the recovery from post-NFP lows, returning to the 1.2600s average.
Technically, it is likely that the 1.2600 price level will be retested in the near term, forming a trend line and using it as strong support for a further rise to support for potential accumulation ahead. when growing further. A retest of the resistance and a break, nothing will stop GBP from growing higher. The targets in this case are 1.2750 and 1.2800
Trade active
Comment:
Related Ideas
