GBP/USD hovers below 1.2150 after retracing recent gains
Updated
Hello traders!
On the last trading day of this week, the GBPUSD market continues to lack significant breakthrough movements, with prices remaining relatively stable. However, this currency pair is facing upward pressure from the weakened US Dollar (USD) following comments made by Federal Reserve Chairman Jerome Powell.
With the current support level at 1.210, a potential uptrend may occur, although it could be short-lived if it encounters resistance at 1.217. The downside target for the retreat is set at 1.205, according to the trendline.
On the last trading day of this week, the GBPUSD market continues to lack significant breakthrough movements, with prices remaining relatively stable. However, this currency pair is facing upward pressure from the weakened US Dollar (USD) following comments made by Federal Reserve Chairman Jerome Powell.
With the current support level at 1.210, a potential uptrend may occur, although it could be short-lived if it encounters resistance at 1.217. The downside target for the retreat is set at 1.205, according to the trendline.
Trade active
Note
Plan active
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.