GBPUSD: Could the FOMC set up a resistance break?
Today's focus: GBPUSD
Pattern – HH HL continuation
Possible targets – 1.2683, 1.2980
Support – 1.2305, 1.2493
Resistance – 1.2640, 1.2660
Today’s focus is on the GBPUSD after buyers made another strong move higher on Wednesday. That move continues the series of HLs and HHs this is a good thing to see in the current short-term uptrend. As discussed in today’s video, our attention is now on key resistance that has stood since May 22.
Could a dovish tone from the Fed set the USD up for more downside? We did see a fightback after the CPI data and the Core remained high at 0.4%. If the Fed hold rates and hint more towards the dovish side in the statement, could that set the GBPUSD up for a new test or break of resistance, setting off a new trend continuation?
For now, the GBPUSD, despite its short-term bullish move, remains consolidation bound.
Pattern – HH HL continuation
Possible targets – 1.2683, 1.2980
Support – 1.2305, 1.2493
Resistance – 1.2640, 1.2660
Today’s focus is on the GBPUSD after buyers made another strong move higher on Wednesday. That move continues the series of HLs and HHs this is a good thing to see in the current short-term uptrend. As discussed in today’s video, our attention is now on key resistance that has stood since May 22.
Could a dovish tone from the Fed set the USD up for more downside? We did see a fightback after the CPI data and the Core remained high at 0.4%. If the Fed hold rates and hint more towards the dovish side in the statement, could that set the GBPUSD up for a new test or break of resistance, setting off a new trend continuation?
For now, the GBPUSD, despite its short-term bullish move, remains consolidation bound.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.