GBP/USD PRICE ANALYSIS: GAINS DESPITE STANDING BEARISH BELOW 1.2700
- GBP/USD maintains earlier gains, as Powell was mute about comments on the forward rate path.
- Momentum favors sellers; RSI near 50 hints at decreasing bearish pressure.
- Support levels: 1.2612 (June 27 low), 1.2600, 1.2563 (200-DMA).
- Resistance points: 1.2709 (July 1 high), 1.2739 (June 19 high), 1.2800.
The Pound Sterling held to earlier gains against the US Dollar on Tuesday at the time the Federal Reserve Chair Jerome Powell crossed the wires at the European Central Bank (ECB) forum in Portugal and said that inflation may get back to the Fed’s 2% target late next year or the following. The GBP/USD trades at 1.2667, above its opening price by 0.14%.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.