
403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
GBP/USD Weekly Forecast - 23/06: Bearish Momentum (Chart)
(MENAFN- Daily Forex) The GBP/USD suffered from additional selling momentum this past week as financial institutions demonstrate their negative near-term behavioral sentiment.
Support and resistance levels this coming week may continue to prove difficult to factor.
- The GBP/USD pair went into the weekend near the 1.26404 ratio, the currency pair began last Monday near the 1.26860 ratio. The GBP/USD did ebb higher starting last week and managed a high around the 1.27405 mark on Wednesday, perhaps helped when the Consumer Price Index met expectations in the United Kingdom with a gain of 2.0% via the broad annual outcome. However, this momentum upwards was effectively shut down and the currency pair started to incrementally selloff going into Thursday.
- 1 Get Started 74% of retail CFD accounts lose money
Support and resistance levels this coming week may continue to prove difficult to factor.
- The GBP/USD is essentially testing values it has last seen since the middle of May. The selling demonstrated on Thursday and Friday this past week proved support levels were vulnerable, this as financial institutions are showing a rather large amount of nervousness and these emotions will not disappear over the coming week. Traders are advised to remain cautious and look for quick hitting trades that take advantage of prevailing short-term technical trends.

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- Manuka Honey Market Report 2024, Industry Growth, Size, Share, Top Compan...
- Modular Kitchen Market 2024, Industry Growth, Share, Size, Key Players An...
- Acrylamide Production Cost Analysis Report: A Comprehensive Assessment Of...
- Fish Sauce Market 2024, Industry Trends, Growth, Demand And Analysis Repo...
- Australia Foreign Exchange Market Size, Growth, Industry Demand And Forec...
- Cold Pressed Oil Market Trends 2024, Leading Companies Share, Size And Fo...
- Pasta Sauce Market 2024, Industry Growth, Share, Size, Key Players Analys...
Comments
No comment