GBP/USD bulls flush out shorts to test 1.25s GBPUSD Currencies DollarIndex BOE
A break of trendline support is eyed for the days ahead.rallied on Wednesday to a fresh high of 1.2515 on further signs of a US economic slowdown that has dented the US Dollar. Data this week has not been favorable for the Greenback and today´s orders for core capital goods slipping more than expected in March has weighed on the currency further., DXY, which measures the currency against six major rivals, dropped to a low of 101.013 as new orders for key U.S.
For that, analysts at TD Securities said that they expect a final 25bps hike in June, bringing the BoE's terminal rate to 4.75% . ´´Strong inflation data continues to weigh on GBP rates. We believe the hawkish price action supports entering longs in GBP on a cross-market basis.´´ If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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