Fundamental Analysis
The USD recovered somewhat after President Donald Trump announced a 90-day pause on tariffs and increased import tariffs on Chinese goods to 125%. This development limited the upside momentum of GBP/USD.
Despite the tariff suspension, investors are still concerned about the US economic outlook due to escalating trade tensions between the two countries. This continues to put downward pressure on the USD and supports GBP/USD to regain momentum.
Technical Analysis
GBPUSD is recovering significantly at the end of the week. and is facing a reaction at the old peak as well as Fibonacci. This pullback is noticeable at two Fibonacci zones and an old breakout zone around 1.30000 and 1.28900. The first two resistances to watch at last week's high around 1.31500 and next week's most important Resistance at 1.32900 will ensure GBPUSD avoids a sudden spike.
The USD recovered somewhat after President Donald Trump announced a 90-day pause on tariffs and increased import tariffs on Chinese goods to 125%. This development limited the upside momentum of GBP/USD.
Despite the tariff suspension, investors are still concerned about the US economic outlook due to escalating trade tensions between the two countries. This continues to put downward pressure on the USD and supports GBP/USD to regain momentum.
Technical Analysis
GBPUSD is recovering significantly at the end of the week. and is facing a reaction at the old peak as well as Fibonacci. This pullback is noticeable at two Fibonacci zones and an old breakout zone around 1.30000 and 1.28900. The first two resistances to watch at last week's high around 1.31500 and next week's most important Resistance at 1.32900 will ensure GBPUSD avoids a sudden spike.
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JOIN OUR FREE TELEGRAM GROUP t.me/+HARBQ2pBFaI5ZjI1
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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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.