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GBPUSD Technical Analysis - Upside Momentum Capped

On the daily chart below for GBPUSD, we can see that the market has been struggling to keep the upside momentum and the price action has become slow and choppy. The trading above the 1.2444 high is tentative as the market keeps flipping from on side to the other as the economic data can’t give a clear picture. On Monday, the US ISM Manufacturing PMI beat expectations with inflation and employment sub-indexes back into expansion and the USD appreciated. Yesterday, the US Job Openings missed expec... Read More

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Content Topics

Gbpusd

Technical

Analysis

Upside

Momentum

Capped

Forex

Posted: May 3 2023, 08:10

Author Name: forexlive

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