GBP/USD hangs near multi-month lows
Updated
Let's explore the market today with Selena!
Today, GBP/USD continues to weaken near its lowest level in months, trading around the 1.219 mark. GU is close to its highest level since the beginning of the year, amidst the hawkish outlook of the Fed and the rising US bond yields. The unexpected pause by the BoE last week continues to weigh on GBP and adds pressure to this currency.
On the 1D timeframe, GBPUSD has dropped to a support level from previous months. However, the downward trend shows no signs of stopping. There is a possibility of further decline towards the expected support level at 1.205.
Today, GBP/USD continues to weaken near its lowest level in months, trading around the 1.219 mark. GU is close to its highest level since the beginning of the year, amidst the hawkish outlook of the Fed and the rising US bond yields. The unexpected pause by the BoE last week continues to weigh on GBP and adds pressure to this currency.
On the 1D timeframe, GBPUSD has dropped to a support level from previous months. However, the downward trend shows no signs of stopping. There is a possibility of further decline towards the expected support level at 1.205.
Note
good luck everyoneNote
Pound Sterling continues a four-day losing spell as investors rush for safe-haven assets as uncertainty over global economic prospects deepens due to persistent inflation.Note
GU continues to decline, with no recovery yet, and the possibility of further price reduction
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.