GBPUSD The British pound is in a safe price zone

31 Eki 2023

Chart The British Pound defended the confluence support at 1.2084/89 throughout the month. This range is defined by the targeted year-to-date open and 78.6% year-to-date retracement. range. Price has fallen just above this threshold and monthly opening resistance is currently at 1.2199. The focus will be on a breakout of this short-term range by the end of the month. Keep in mind that BOE and Fed interest rate decisions are at stake, and US non-farm payrolls are expected to be released on Friday.