British Pound / U.S. DollarUpdated GBPUSD continues to struggle
Shall we delve into the world of GBPUSD trading with Darius during this weekend's session?
The GBPUSD market experienced a slight rebound following months of continuous decline, closing just above 1,220. However, the pair is still grappling with the pressures of a prevalent downtrend.
In addition, inflation remains a major concern for both the Bank of England (BoE) and the United Kingdom. As such, it seems likely that high interest rates will persist as they attempt to address this issue. Unfortunately, this situation has negative implications for GBPUSD and is pushing it further along its downward path towards previous low points from several months ago.
The GBPUSD market experienced a slight rebound following months of continuous decline, closing just above 1,220. However, the pair is still grappling with the pressures of a prevalent downtrend.
In addition, inflation remains a major concern for both the Bank of England (BoE) and the United Kingdom. As such, it seems likely that high interest rates will persist as they attempt to address this issue. Unfortunately, this situation has negative implications for GBPUSD and is pushing it further along its downward path towards previous low points from several months ago.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.