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GBPUSD Technical Analysis - Crossing Into Downside

On the daily chart below for GBPUSD, we can see that after a long struggle at the 1.2444 resistance, price broke out and rallied to the 1.27 handle. As we got another hot US NFP report though, the price started to top out and eventually reversed as more good US data started to come in. Since the Fed hinted to a pause at the last FOMC meeting but left the door open for another hike in case the data remains strong, the market is now pricing in a higher chance of such a scenario. The GBPUSD price i... Read More

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Content Topics

Gbpusd

Technical

Analysis

Crossing

Into

Downside

Forex

Posted: May 23 2023, 08:24

Author Name: forexlive

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