GBP/USD bulls hope US prices have cooled, eye break of 1.2520 GBPUSD CPI Fed Currencies Technical Analysis
Meanwhile, the following illustrates the technical landscape leading into tomorrow´s events:GBP/USD is trading within the right-hand shoulder of a massive inverse head and shoulders pattern, testing the neckline.The price had dropped for four consecutive days and retraced over 70% of the prior bullish impùlse. Bulls are moving in following a close above the 61.8% Fibonacci retracement measure which is bullish. A higher high could be on the cards for this bull cycle.
If on the other hand, considering the break of the prior bullish trendline, if bears commit below 1.2450, then a bearish thesis will be in play to break below 1.2400:However, the bullish thesis will be in play while above support and 1.2350 as per the above daily chart. All will depend on the US consumer Price Index outcome for the US session and beyond ahead. Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD Price Analysis: 1.2400 cushion looks fragile amid geopolitical tensionsThe GBP/USD pair is hovering below 1.2430 after a recovery move from the round-level support of 1.2400 in the early Asian session. Expectations for a
Read more »
GBP/USD Price Analysis: Recovery remains elusive below 1.2405 immediate hurdleGBP/USD Price Analysis: Recovery remains elusive below 1.2405 immediate hurdle GBPUSD Technical Analysis SwingTrading SupportResistance ChartPatterns
Read more »
GBP/USD surrenders gains as USD Index extends recovery ahead of US InflationThe GBP/USD pair has surrendered its entire gains generated in the early Asian session. The Cable has dropped back below 1.2420 as the US Dollar index
Read more »
GBP/USD extends four-day downtrend to 1.2400 despite Easter Monday holidayGBP/USD takes offers to refresh the intraday low near 1.2400 during early Easter Monday morning in London. In doing so, the Cable pair drops for the f
Read more »
GBP/USD sticks to modest intraday gains above 1.2400, lacks follow-throughThe GBP/USD pair reverses an intraday dip to sub-1.2400 levels and turns positive during the first half of the European session, though lacks follow-t
Read more »
Pairs in Focus This Week \u2013 EUR/USD, USD/JPY, Gold, GBP/USDGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of April 9th, 2022 here.
Read more »