GBPUSD on hold: caught between oil rally and high interest rates
The GBPUSD pair is standing in a narrow sideways range near 1.3464. The market needs strong news.
Technical outlook
The GBPUSD pair remains in a consolidation phase on the H4 chart after the sharp decline from May highs in the 1.3630–1.3650 area. After forming a local low near 1.3300, buyers recouped some losses, but a sustainable upward momentum has yet to emerge.
The GBPUSD pair remains without a strong catalyst, but holds below crucial levels.
Read more - GBPUSD Forecast
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team
The GBPUSD pair is standing in a narrow sideways range near 1.3464. The market needs strong news.
Technical outlook
The GBPUSD pair remains in a consolidation phase on the H4 chart after the sharp decline from May highs in the 1.3630–1.3650 area. After forming a local low near 1.3300, buyers recouped some losses, but a sustainable upward momentum has yet to emerge.
The GBPUSD pair remains without a strong catalyst, but holds below crucial levels.
Read more - GBPUSD Forecast
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team
