The GBP/USD sold off Monday on the back of the US-China trade truce, which lifted the dollar. Today, we saw a rebound in major currency pairs including the cable. But was Monday's price action following the weekend developments a game changer?
I think it was, and feel the US dollar has more room to the upside. For that reason, I am expecting the GBPUSD to hold below key resistance around 1.3245, which is shaded in orange on the chart. This area was old support, and may now turn into strong resistance. Let's see.
By Fawad Razaqzada, Market Analyst with FOREX.com
I think it was, and feel the US dollar has more room to the upside. For that reason, I am expecting the GBPUSD to hold below key resistance around 1.3245, which is shaded in orange on the chart. This area was old support, and may now turn into strong resistance. Let's see.
By Fawad Razaqzada, Market Analyst with FOREX.com
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.