Sun, Dec 04, 2022 @ 14:41 GMT
HomeContributorsTechnical AnalysisGBP/USD Analysis: Awaits Fundamentals

GBP/USD Analysis: Awaits Fundamentals

The Pound was relatively steady on Tuesday morning, being supported by the weekly PP and the 55– and 200-hour SMAs circa 1.3015. However, this stable equilibrium changed mid-session when the rate shot up near the 1.3080 mark. This upward motion was not sustainable, as the price was pressured back to the aforementioned levels. By and large, the Sterling continues to move in an up-trend. Daily technical indicators suggest that it should trade higher in respect to Wednesday morning, trying to reach the weekly R1 at 1.3104. However, some minor depreciation may still occur. In case the rate breaches the trend-line, a fall down to the bottom wedge boundary is expected. Nevertheless, two sets of important fundamentals are to be released today.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading