GBPUSD Bullish Breakout: A breach of the 1.2500 support could le
Updated
Pound-to-dollar exchange rate faces headwinds as US dollar strengthens on inflation data in November. Report reveals consumer price index (CPI) up 0.1% and a 0.3% increase in the core CPI, has caused the market to reassess expectations for an impending rate cut. As the Federal Reserve convenes to discuss its next policy decision, analysts anticipate an effort by Chairman Powell to calm speculation and maintain a resilient economic outlook. Despite the initial rise in the Dollar, a detailed examination of the inflation report revealed underlying weakness, leading to a nuanced view of the trajectory of interest rates. Meanwhile, technical analysis points to a key moment at the 1.2500 support level, with the potential for significant volatility in either direction.
The US dollar made a comeback following the release of November inflation data, surprising markets with a monthly CPI increase of 0.1%. This increase, compared to October's steady reading and market expectations, has changed sentiment towards the greenback. Core CPI, at 0.3% m/m, further reinforces the view of rapidly increasing price pressures.
The US dollar made a comeback following the release of November inflation data, surprising markets with a monthly CPI increase of 0.1%. This increase, compared to October's steady reading and market expectations, has changed sentiment towards the greenback. Core CPI, at 0.3% m/m, further reinforces the view of rapidly increasing price pressures.
Note
💵GBPUSD BUY NOW 1.2710-1.2720💵✔️TP1 1.2750
✔️TP2 1.2770
❌SL 1.2660
Note
⚠️ Limit XAUUSD ⚠️💵 SELL 2068>2070💵
❌SL 2075
✔️TP 2062>205x
Related publications
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.