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On the 1-hour chart, the downtrend continues. After losing momentum from 1.306, GBPUSD has continued to decline. With the market looking unfavorable and the Fed’s interest rate cut policy unclear, GU has lost value.
The next target for the next decline is seen at 1.2950, which is a strong psychological barrier. However, the possibility of a rebound cannot be ruled out if the bulls manage to push the price up from 1.2980 as mentioned on the chart.
On the 1-hour chart, the downtrend continues. After losing momentum from 1.306, GBPUSD has continued to decline. With the market looking unfavorable and the Fed’s interest rate cut policy unclear, GU has lost value.
The next target for the next decline is seen at 1.2950, which is a strong psychological barrier. However, the possibility of a rebound cannot be ruled out if the bulls manage to push the price up from 1.2980 as mentioned on the chart.
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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.