The pound has had recent upside gains due to the optimistic UK inflation data but will the prospects hold out through the Christmas holidays. BoE said to be cutting rates. GU could potentially head down before retesting for further dollar gains. Lower highs indicating increased selling pressure on the pound making buyers wary of the next bullish movement but could the buyers hold onto their momentum an bolster through the resistance level at 1.275. Possible entry at 1.267 upon retest.
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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.