Considering the market dynamics, the British pound appears to be undergoing a short-term correction, and whether it can regain momentum remains to be seen. experienced a decline during the early hours of Thursday, displaying signs of hesitation as it continues to consolidate.
Beneath this level lies the 1.2350 support, which played a crucial role in the previous month, potentially defining the lower boundary of the current range. A break below this level could bring the 200-Day EMA into focus.On the upside, the 1.2550 level previously acted as the top of the range. Although there was a swift breakout above it, the market retraced back into that area.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD rebounds from multi-week low amid softer USD, lacks bullish convictionThe GBP/USD pair shows some resilience below the 50-day Simple Moving Average (SMA) and stages a modest recovery from sub-1.2400 levels, or over a thr
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD Price Analysis: Bears are moving in on the risk rallyGBP/USD is back to flat in the day after initial losses that were sparked in the face of the Bank of England Governor Andrew Bailey reiterating that h
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD eyes 1.2500 as UK Inflation shows no evidence of ditching double-digit territoryThe GBP/USD pair has gauged an intermediate support around 1.2480 after a mild correction and is looking to reclaim the psychological resistance of 1.
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD Price Analysis: Retreats from 200-SMA, weekly resistance line, Cable bears eye 1.2425GBP/USD Price Analysis: Retreats from 200-SMA, weekly resistance line, Cable bears eyed 1.2425 GBPUSD Technical Analysis ChartPatterns SwingTrading SupportResistance
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD continues its sideways performance below 1.2500 as USD Index defends downsideThe GBP/USD pair is displaying a back-and-forth action below the psychological resistance of 1.2500 in the Tokyo session. The Cable is failing to deli
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD: A breach of 1.2400 should not be ruled out – UOBIn the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBP/USD could retreat further and break below the 1.2400 su
Source: FXStreetNews - 🏆 14. / 72 Read more »