GBPUSD at a decision point

As the DXY weakens, this has led the GBPUSD to climb steadily to the upside testing the resistance level of 1.2280, which also coincides with the 61.80% Fibonacci retracement level from the longer term.

However, the UK FPC is due to release its statement and minutes which could see a sharp reversal if the sentiment is dovish.

A break of the resistance level could see the GBPUSD continue its climb higher, with the next major resistance level slightly above 1.24
DXYForexFundamental AnalysisfxGBPGBPUSDTechnical IndicatorsTrend AnalysisUSD

Join my mailing list jindaotai.com/joinme
Also on:

Related publications

Disclaimer