GBP/USD gains ground on US Dollar weakness GBPUSD
The US debt-ceiling agreement favored a positive market environmentCable trades with gains near the 1.2350 area and benefits from the positive market mood fueled by the announcement on Sunday regarding an agreement on the debt ceiling between US President Joe Biden and Republican House Speaker Kevin McCarthy. While neither country will release relevant economic reports the pace of the session will be dictated by the market assessment of the mentioned agreement.
The news of the agreement was well-received by Wall Street futures, leading to a rise in their value and exerting downward pressure on theFor the rest of the week, the focus will shift to Nonfarm Payrolls data from the US from May which is expected to hint at more pain in the American labor market. In that sense the outlook may have an impact on expectations from the next Federal Reserve meeting in June and hence on the US Dollar price dynamics.
The psychological mark at 1.2320 is the immediate support level for GBP/USD. A break below this level could pave the way towards the 100-day Simple Moving Average at 1.2290 area and then to the 1.2250 zone. Furthermore, a move above the 1.2390 level would favor the bull’s momentum with next resistances at the 1.2450 zone and 20-day SMA at 1.2480.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
GBP/USD Price Analysis: Cable bears remain hopeful below 1.2440-45 resistance confluenceGBP/USD Price Analysis: Cable bears remain hopeful below 1.2440-45 resistance confluence GBPUSD Technical Analysis ChartPatterns SwingTrading SupportResistance
Baca lebih lajut »
GBP/USD Price Analysis: Cable buyers approach 1.2400 resistance confluenceGBP/USD Price Analysis: Cable buyers approach 1.2400 resistance confluence GBPUSD Technical Analysis SwingTrading ChartPatterns SupportResistance
Baca lebih lajut »
Pairs in Focus This Week \u2013 AUD/USD, USD/JPY, GBP/USDGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of May 28th, 2022 here.
Baca lebih lajut »
Trading Support and Resistance \u2013 GBP/USDThis week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Baca lebih lajut »
GBP/USD: Weekly Forecast 28th May - 3rd JuneSupport levels have continued to prove vulnerable in the GBPUSD as nervous trading conditions highlight Forex-
Baca lebih lajut »
GBP/USD recovers from 1.2350 as USD Index drops amid US debt-ceiling raise approvalThe GBP/USD pair has attempted a recovery move after trading sideways below 1.2350 in the Asian session. The strength in Cable has come due to a sheer
Baca lebih lajut »