$GBPUSD Continues to Threaten a Breakout - forextrading Pound BULLISH forex
SubscribeWe commit to never sharing or selling your personal information
The question now is whether Jerome Powell makes that happen after his speech on Wednesday after the Federal Reserve is more likely than not going to raise rates.has rallied significantly over the last several weeks, but during the day on Thursday, has seen a lot of choppy behavior with a 1.24 level offering resistance.resistanceThat obviously is a large, round, psychologically significant figure, and therefore think a lot of people will be paying close attention to it.
You can see that I have a yellow line drawn on the chart, it does suggest that we are in some type of rounding bottom as well, but you can also make an argument for a double top. Haven’t kicked off the double top yet, but if we get some type of negative momentum all of a sudden, that could be the beginning of something rather ugly.
The question now is whether Jerome Powell makes that happen after his speech on Wednesday after the Federal Reserve is more likely than not going to raise rates. The question is whether he does something to be down the market in the process. Right now, this looks like a market that just does not know exactly what to do, but when I look across various asset classes, I can say the same about a lot of different things.
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 still looks vulnerable to short-term pressure and a push under 1.23 – ScotiabankGBP/USD is dithering around the 1.23 support zone. Economists at Scotiabank expect the pair to suffer losses in the near term. Risks still seem tilted
Read more »
GBP/USD climbs sharply, back above 1.2380 as traders eye US GDPThe GBP/USD solidly climbs and trims two days of consecutive losses after hitting a weekly low of 1.2263 on Wednesday. Risk aversion is the game’s nam
Read more »
GBP/USD Price Analysis: Bulls prepare an assault of 1.2400 and beyondThe GBP/USD is trading almost flat as the Asian Pacific session begins. On Wednesday, the GBP/USD closed on a higher note, up by a half percent (0.50%
Read more »
GBP/USD seeks stability above 1.2400 for a fresh upside, spotlight is on US GDPThe GBP/USD pair is aiming to shift its auction profile above the critical resistance of 1.2410 in the Tokyo session. The cable is struggling to exten
Read more »
GBP/USD Price Analysis: Bullish pennant suggests further upside as US GDP loomsGBP/USD buyers struggle to extend the previous day’s gains around 1.2400 heading into Thursday’s London open. Even so, the quote portrays a bullish ch
Read more »
GBP/USD consolidates in a range around 1.2400, awaits US Q4 GDP for fresh impetusThe GBP/USD pair struggles to capitalize on the previous day's positive move and oscillates in a narrow trading band through the early European sessio
Read more »