GBP/USD languishes near multi-month low
Updated
Hello dear friends!
Today, GU is trading around the 1.3480 price level. The GBP/USD pair continues to maintain a consecutive downward trend on Tuesday and remains limited below the 1.2400 level during the Asian trading session. Meanwhile, prices have reached their lowest point since June last week, and the lack of buying power indicates that the path with fewer obstacles now is downwards.
And what about you? Leave your thoughts in the comments for Selena to know!
Today, GU is trading around the 1.3480 price level. The GBP/USD pair continues to maintain a consecutive downward trend on Tuesday and remains limited below the 1.2400 level during the Asian trading session. Meanwhile, prices have reached their lowest point since June last week, and the lack of buying power indicates that the path with fewer obstacles now is downwards.
And what about you? Leave your thoughts in the comments for Selena to know!
Note
good luck everyoneNote
Firming expectations that the Bank of England (BoE) is nearing the end of its rate-hiking cycle continue to undermine the British Pound (GBP) and act as a headwind for the GBP/USD pairNote
On the 4-hour chart, GU is still looking for a suitable level below the 1.237 price zone to establish a bottom with resistance at 1.400. Since GU has not found a reasonable stopping point, it is evident that the price will continue to decline today.
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