GBP/USD could find resistance around the psychological level of 1.2800. The momentum indicator MACD suggests a confirmation of a bullish trend for the pair. The 21-day EMA at 1.2712 appears as the immediate support, followed by the lower boundary of the rising channel at 1.2700. GBP/USD extends its gains for the second successive session ahead...
Tag: Technical Analysis
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Pound Sterling keeps pushing against 1.2430 support weighed by weak UK employment data
The Sterling has resumed its broader bearish trend during Tuesday’s London trading session. The uninspiring UK employment figures have endorsed the theory that the BoE might start cutting rates ahead of schedule, which has punished the GBP. Read More… The Pound Sterling (GBP) remains on the backfoot in Tuesday’s early New York session. The GBP/USD pair remains...
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GBP/USD Forecast: UK jobs report does little to help Pound Sterling rebound
GBP/USD trades below 1.2450 in the European session on Tuesday. ILO Unemployment Rate in the UK rose to 4.2% in the three months to February. The cautious market mood could cap the pair’s recovery attempts. GBP/USD staged a rebound toward 1.2450 after setting a new multi-month low near 1.2400 earlier in the day on Tuesday....