GBPUSD also edged down on Thursday
Updated
GBPUSD also edged down on Thursday, but managed to stabilize around the 1.2515/1.2500 range. Bulls must strive to maintain prices above this support region to prevent sentiment towards the pound from deteriorating; otherwise, sellers could seize the opportunity to launch a bearish assault on 1.2430.
On the other hand, if buyers make a new appearance and propel prices higher, resistance emerges at 1.2550, where the 200-day simple moving average converges with a short-term descending trendline. Moving further up, attention will be focused on Fibonacci resistance at 1.2590, followed by 1.2620.
On the other hand, if buyers make a new appearance and propel prices higher, resistance emerges at 1.2550, where the 200-day simple moving average converges with a short-term descending trendline. Moving further up, attention will be focused on Fibonacci resistance at 1.2590, followed by 1.2620.
Note
Contrary to expectations, Q1's positive GDP data had a rather limited impact on the value of the British pound and that alone is unlikely to impact the BoE's interest rate path, which still has many unknowns. GBP/USD only increased slightly by 0.06%, trading at 1.2531 at the time this article was posted.Note
Note
GBPUSD surpasses 1.2750 after UK CPI data turned hotter than expectedGBP/USD rose nearly 0.3% above the 1.2750 mark, its highest since March, after UK April CPI data came in higher than expected. Currently GBP/USD is trading around 1.2749, investors are aiming for 1.2790 and 1.2800.
Note
GBP/USD tetap menguat karena para pedagang meredam ekspektasi Bank of England (BoE) yang akan menormalisasi kebijakan pada pertemuan bulan Juni setelah mempertahankan sikap hawkish terhadap suku bunga selama lebih dari dua tahun.Note
Since touching the support area of 1.2600, corresponding to the 38.2% Fibonacci threshold calculated based on the increase from April, GBP/USD has continuously increased to near the peak of June, and at the same time entered the strong resistance area of 1.2800-1.2900. Therefore, the increased selling pressure is quite understandable.Note
Although the monetary policy differences between the US Federal Reserve (Fed) and the Bank of England (BoE) are still the main factor creating fluctuations in GBP/USD, the return of the USD on a large scale due to risk aversion has ruined the "party" of the British pound.
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