selling. Given that the markets already seem to have fully priced in at least a 50 bps Fed rate hike move over the next two meetings, signs of stability in the financial markets undermined the safe-haven buck. The British pound was further supported by the Bank of England Chief Economist Huw Pill's remarks on Friday, saying that they still have some way to go in policy tightening as MPC sees an upside skew in the risks around the inflation.
On the flip side, the 38.2% Fibo. level resistance breakpoint, around the 1.2500 mark, now seems to act as immediate strong support. Any subsequent decline is likely to find decent support near the 1.2455-1.2450 region, below which the GBP/USD pair might accelerate the fall towards the 1.2400-1.2390 confluence. The latter comprises 100-period SMA on the 4-hourand the 23.6% Fibo. level. A convincing break below will shift the bias back in favour of bearish traders and make the pair vulnerable.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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.
A meteor shower outburst from a shattered comet may spawn new tau Herculids display on May 30The stage is set for a potentially impressive performance. Unrealistic ✨✨ I had a dream a few months back of fireballs falling out of the sky from every direction. It was about a couple weeks after DART was launched. This headline is a bit unsettling on a personal level. I can even prove I told someone about this dream. We'll see. They say meteorites are spreading dna through out the universe, learn more in this short vid
Source: SPACEdotcom - 🏆 92. / 67 Read more »
India crypto app CoinSwitch chief calls for regulatory 'peace, certainty,' Reuters saysA federal government move to tax crypto income has been seen by the industry as a sign of potential acceptance. talking about this video Let's see future projects that is okeyverse ✅SAFU DEV 🚀SMOOTH ROADMAP ❤️CO-WORKING SPACE 🟥VIDEO STREAMING 🌏PLAY TO EARN GAMES okeyverse okeycoin bsc bnb crypto I'm really glad I came across this, I hope it helps you too!
Source: TheBlock__ - 🏆 464. / 53 Read more »
TAG Heuer Leads LVMH Group in Accepting CryptocurrenciesAre cryptos still relevant? TAG Heuer still thinks so as you can now buy beloved models with cryptocurrencies like Bitcoin DOGE and ETH in the US.
Source: Luxuo - 🏆 571. / 51 Read more »
USD/CNH struggles to cheer USD weakness near 6.7000 on fresh covid fearsUSD/CNH picks up bids to 6.7030 as fresh covid numbers renew China’s virus woes during Monday’s Asian session. Also keeping USD/CNH buyers hopeful are Hello Remember when RealDonaldTrump said 'It’s going to disappear. One day it’s like a miracle – it will disappear' coronavirus moronavirus covidiots covid19
Source: FXStreetNews - 🏆 14. / 72 Read more »
Blockchain, crypto set to take sports industry beyond NFT collectibles“Moving beyond NFTs,” Deloitte expects the sports industry to link spectators with season tickets over the blockchain eventually. The possibilities maybe ...but the usecases will be the ones that governments, EU are allowing. Regulation will get a grip of this as well ..;especially now when they see the huge amount of funds going round .. nft crypto metaverse art The possibilities ARE endless. $CHZ is so well positioned to capture all the growth in this sector in the next years - DYOR Guys. 😉
Source: Cointelegraph - 🏆 562. / 51 Read more »