Subscribe To
GBPUSD Whiplash: Market Volatility Amid Strong UK Inflation and Technical Indicators
The GBPUSD market experienced significant fluctuations today. During the Asian trading session, the 200-hour moving average (represented by the green line in the chart above) acted as a resistance level, causing the price to rotate down toward a swing area between 1.2388 and 1.23974. The UK's CPI data exceeded expectations, coming in at 10.1% YoY, compared to the 9.8% forecast. This development reversed the bias and propelled the GBPUSD upward, surpassing both the 200 and 100-hour moving average...
Read More
Posted: Apr 19 2023, 14:18
Author Name: forexlive
Views: 112542