GBP/USD standpoint: Sterling falls further on hazard avoidance, downbeat UK GDP information

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Link dunks to one-month low in early Monday, in augmentation of Friday’s post-US CPI 1.4% drop.

Hazard avoidance overwhelms toward the beginning of the week and empties authentic, while dollar was supported by nonstop ascent in US expansion which arrived at new most elevated in forty years in May.

Suddenly powerless UK GDP figure for April, added to pound’s negative close term standpoint.

Rising negative force on day to day diagram and moving midpoints in full negative setup, support the activity which tensions round-figure 1.22 help, the keep going impediment on the way towards.

key help at 1.2155 (2022 low), infringement of which would affirm full retracement of 1.2155/1.2667 restorative upleg and risk expansion towards next key levels at 1.2080/00 (Fibo 76.4% of bigger 1.1409/1.4249 Mar 2020/May 2021 convention/mental)

Res: 1.2276; 1.2324; 1.2350; 1.2413.
Sup: 1.2200; 1.2155; 1.2100; 1.2080.

Interested in GBP/USD technicals? Check out the key levels

  1. R31.2671
  2. R21.2595
  3. R11.2455
  1. PP1.2378
    1. S11.2238
    2. S21.2161
    3. S31.2022

About the author

Nafees Saifi // entrepreneur, author, trainer, and stocks and FX trader. 
Nafees Saifi is a professional FX trader from, India. Nafees has extensive experience trading commodities, bonds, and equity futures in the Asian, European, and US markets. Nafees holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.


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